Question: Please solve step by step! Thanks! Mason (single) is a 50 percent shareholder in Angels Corporation (an S Corporation). Mason receives a $187,500 salary working

Please solve step by step! Thanks!  Please solve step by step! Thanks! Mason (single) is a 50
percent shareholder in Angels Corporation (an S Corporation). Mason receives a $187,500
salary working full time for Angels Corporation. Angels Corporation reported $430,000 of
taxable business income for the year (2023). Before considering his business income
allocation from Angels and the self-employment tax deduction (if any). Mason's adjusted

Mason (single) is a 50 percent shareholder in Angels Corporation (an S Corporation). Mason receives a $187,500 salary working full time for Angels Corporation. Angels Corporation reported $430,000 of taxable business income for the year (2023). Before considering his business income allocation from Angels and the self-employment tax deduction (if any). Mason's adjusted gross Income is $187.500 (all salary from Angels Corporation). Mason claims $65,000 in itemized deductions. Answer the following questions for Mason. Note: Leave no answer blank. Enter zero if applicable. 1. Assuming the original facts, what is Mason's net investment income tax llability (assume no investment expenses)? Mason (single) is a 50 percent shareholder in Angels Corporation (an S Corporation). Mason receives a $187.500 salary working full time for Angels Corporation. Angels Corporation reported $430,000 of taxable business income for the year (2023). Before considering his business income allocation from Angels and the self-employment tax deduction (if any). Mason's adjusted gross income is $187,500 (all salary from Angels Corporation). Mason claims $65,000 in itemized deductions. Answer the following questions for Mason. Note: Leave no answer blank. Enter zero if applicable. Assume the same facts as question (b). except that Angels Corporation reported $180,000 of taxable business income for the year. hat is Mason's deduction for qualified business income? Ignore the wage-based limitation when computing the deduction. Mason (single) is a 50 percent shareholder in Angels Corporation (an S Corporation). Mason receives a $187,500 salary working full time for Angels Corporation. Angels Corporation reported $430,000 of taxable business income for the year (2023). Before considering his business income allocation from Angels and the self-employment tax deduction (if any). Mason's adjusted gross income is $187,500 (all salary from Angels Corporation). Mason claims $65,000 in itemized deductions. Answer the following questions for Mason. Note: Leave no answer blank. Enter zero if applicable. e. Assuming the original facts, what is Mason's additional Medicare tax llability? Required information [The following information applles to the questions displayed below.] Mason (single) is a 50 percent shareholder in Angels Corporation (an S Corporation). Mason recelves a $187,500 salary working full time for Angels Corporation. Angels Corporation reported $430,000 of taxable business income for the year (2023). Before considering his business income allocation from Angels and the self-employment tax deduction (if any). Mason's adjusted gross income is $187,500 (all salary from Angels Corporation). Mason claims $65,000 in itemized deductions. Answer the following questions for Mason. Note: Leave no answer blank. Enter zero if applicable. a. What is Mason's self-employment tax llability? Mason (single) is a 50 percent shareholder in Angels Corporation (an S Corporation). Mason recelves a $187,500 salary working full time for Angels Corporation. Angels Corporation reported $430,000 of taxable business income for the year (2023). Before considering his business income allocation from Angels and the self-employment tax deduction (if any). Mason's adjusted gross income is $187,500 (all salary from Angels Corporation). Mason claims $65,000 in itemized deductions. Answer the following questions for Mason. Note: Leave no answer blank. Enter zero if applicable. . Assuming the business income allocated to Mason is income from a specified service trade or business, what is Mason's deduction or qualified business income? Ignore the wage-based limitation when computing the deduction

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