Question: Return to the facts of problem 33. Compare the total income tax liability of Herman's incorporating his business versus operating it as a sole proprietorship.

Return to the facts of problem 33. Compare the total income tax liability of Herman's incorporating his business versus operating it as a sole proprietorship.

Assume that he is paid a $60,000 salary and has income from other sources that is $14,000 more than his allowable deductions.

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