Mrs. Singer owns a profitable sole proprietorship. For each of the following cases, use a Schedule SE,

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Mrs. Singer owns a profitable sole proprietorship. For each of the following cases, use a Schedule SE, Form 1040, to compute her 2016 self-employment tax and her income tax deduction for such tax.
a. Mrs. Singer's net profit from Schedule C was $51,458. She had no other earned income.
b. Mrs. Singer's net profit from Schedule C was $51,458, and she received a $80,000 salary from an employer.
c. Mrs. Singer's net profit from Schedule C was $51,458, and she received a $127,000 salary from an employer?
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Principles Of Taxation For Business And Investment Planning 2018

ISBN: 9781259713729

21st Edition

Authors: Sally Jones, Shelley C. Rhoades Catanach, Sandra R Callaghan

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