Joey and Camilla are married and have three children, ages 8, 16, and 18. They own a

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Joey and Camilla are married and have three children, ages 8, 16, and 18. They own a commercial cleaning business that is organized as a sole proprietorship and makes $170,000 annually. They have $30,000 of other taxable income (net of allowable deductions).

Identify the tax issue(s) posed by the facts presented. Determine the possible tax consequences of each issue that you identify.

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Concepts In Federal Taxation 2017

ISBN: 9781305965119

24th Edition

Authors: Kevin E. Murphy, Mark Higgins

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