Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Omar ( single ) is a 5 0 percent owner in Cougar LLC ( taxed as a partnership ) . Omar works half time for
Omar single is a percent owner in Cougar LLC taxed as a partnership Omar works half time for Cougar and receives guaranteed payment of $ Cougar LLC reported $ of business income for the year Before considering his percent business income allocation from Cougar and the selfemployment tax deduction if any Omar's adjusted gross income is $includes $ guaranteed payment from Cougar and $ salary from a different employer Omar reports itemized deductions of $ Answer the following questions for Omar.
Note: Leave no answer blank. Enter zero if applicable. Round your intermediate calculations and final answers to the nearest whole dollar.
e What is Omar's additional Medicare tax liability?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started