Given the following facts about Sammie Bright, calculate his preliminary understatement using the Cash T-method. Schedule C
Question:
Schedule C expenses................................102,000
Personal living expenses..............................59,000
Schedule C receipts...................................112,000
In the problem above, do you have enough information to determine that Sammie has understated income? If not, what else is needed?
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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