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12 January, 19:27

Ava has net earnings from self-employment of $125,000. She also earned salary of $170,000 from a job held earlier in the year. How much Additional Medicare Tax will be owed on the self-employment income?

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  1. 12 January, 20:22
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    The correct answer is $3,625.

    Explanation:

    According to the scenario, the given data are as follows:

    Self earning = $125,000

    Salary income = $170,000

    AS we know that, Medicare tax percent = 2.9%

    So, we can calculate the medicare tax that will be owed on self employment income by using following formula:

    Medicare tax owed = Self earning * medicare Tax percent

    = $125,000 * 2.9%

    = $3,625
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