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Mason is a 50 percent share holder in angels Corp. Mason receives 191000 $ as a salary working full time for angels Corp. Reported 444000$ of taxable business income for the year 2020.before considering his business income allocation from angels and the self employment tax deduction. Mason's adjusted gross income is 191000$ . Answer the following questions What is the Mason's self employment tax liability What is Mason's additional Medicare tax liability

Answer»

Hope you like the answer.If you like the answer please give it the brainliest answer.Explanation:Mason (single) is a 50 percent shareholder in ANGELS Corp. (an S Corporation). Mason receives a $189,500 salary working full TIME for Angels Corp. Angels Corp. reported $438,000 of TAXABLE BUSINESS income for the year (2020). Before considering his business income allocation from Angels and the self-employment tax deduction (if any), Mason’s adjusted GROSS income is $189,500 (all salary from Angels Corp.).



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