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Business, 29.02.2020 00:13 briansalazar17
Jorge is a 100 percent owner of JJ LLC (taxed as an S Corporation). He works full-time for JJ and his marginal ordinary tax rate is 37 percent. Which of the following statements is true regarding Jorge's tax treatment of business income allocated to him from JJ? a) Business income allocations are taxed at a maximum 23.8 percent tax rate. b) Business income allocations are subject to self-employment tax. c) Business income allocations are not subject to the net investment income tax. d) Business income allocations are subject to the additional Medicare tax.
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Jorge is a 100 percent owner of JJ LLC (taxed as an S Corporation). He works full-time for JJ and hi...
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