Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. kiyara (single) is a 50 percent shareholder of gua

Kiyara (single) is a 50 percent shareholder of Guardian Corporation (an S Corporation). Kiyara does...

50.1K

Verified Solution

Question

Accounting

Kiyara (single) is a 50 percent shareholder of Guardian Corporation (an S Corporation). Kiyara does not do any work for Guardian Corporation. Guardian Corporation reported $304,000 of business income for the year (2023). Before considering her business income allocation from Guardian Corporation and the self-employment tax deduction (if any). Kiyara's adjusted gross income was $254,000(all employee salary). Kiyara has $40,200 in itemized deductions. Answer the following questions for Kiyara.
Note: Leave no answer blank. Enter zero if applicable.
Problem 15-45 Part d (Algo)
d. What is Kiyara's additional Medicare tax liability (include all earned income in computing the tax)?
Additional Medicare tax liability
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

The treasure map in the figure gives the following directions to the buried treasure: \"Start at...

Physics
Q

According to Nakano Glenn (2010) “How is skin lightening interwoven into the world economic system and its...

Psychology
Q

5) CHART - Create a 3-D pie chart showing the breakdown of total Hours Worked into...

Advance Math
Q

A piano with a mass of 124 kg is lifted 10 m above the ground...

Physics
Q

Figure shows the elliptical path of a planet about the sun The two shaded parts...

Physics
Q

Find an angle 0 0 0 360 with the following properties a The angle has...

Algebra
Q

Using the U.S. Security and Exchange Commission's for help , research Apple Inc. and its...

Accounting
Q

Marigold Corp. reported total manufacturing costs of $350000, manufacturing overhead totaling $78000, and direct materials...

Accounting
Q

In a manufacturing company: Beginning Inventory + Purchases = Cost of Goods Available...

Accounting
Q

Scott and Bonnue, married taxpayers, earn $258,000 in taxable income and $7,700 in interest from...

Accounting
Q

ACCT 308 - Budget assignment (7) Home Suites is a chain of all-suite, extended-stay hotel...

Accounting
Q

The BlackRock Funds has an expected return of 17.1% and a volatility of 18.6%, and...

Finance