Married taxpayer Otto and Ruth are both self-employed and file a joint return. Otto earns $352,000 of self-employed income and Ruth has a self-employment loss of $13,500. How much 0.9% Medicare tax for high income taxpayers will Otto and Ruth have to pay with their 2019 income tax return?

Q: Marcus a single taxpayer has taxable income of $60,000.  Using the US 2020 tax rate schedule.  How…

A: Taxable Income: Taxable income is the amount of a person's gross income that the government deems…

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Q: additional 0.9% Medicare tax

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A: Tax: It is levied on individual and the Corporation by the Federal Government of the country.

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A:

Q: 1.Jake pays $8,500 in deductible property taxes. His marginal tax rate is 31%, his effective tax…

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Q: What is her self-employment tax liability and additional Medicare tax liability for 2020? Thx,

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Q: 24%, what is Patricia's gross tax liabi

A: First 1100 qualifies at standard rate i.e, 10% Excess of 2200 is at guardians rate