Sarah owns a business that she operates as a sole proprietorship. The business had a net profit
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Sarah owns a business that she operates as a sole proprietorship. The business had a net profit of $138,000 in 2019. This is Sarah’s only earned income.
a. How much must she pay for self-employment taxes?
b. How much can she deduct on her tax return?
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a 19499 138000 x 9235 127433 x 153 1949878 Note th...View the full answer
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Sanjana Sharma
Right now I am a CA aspirant. Till date I have cleared CA intermediate group 2 examinations. I have interest in theory subjects like law and audit.
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Related Book For
Taxation For Decision Makers 2020
ISBN: 9781119562108
10th Edition
Authors: Shirley Dennis Escoffier, Karen Fortin
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