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 2017 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 $137,000 salary from an employer.

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Principles Of Taxation For Business And Investment Planning 2019 Edition

ISBN: 9781260161472

22nd Edition

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

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Question Posted: Jan 16, 2019 09:21 AM

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

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a Mrs Singers 2017 selfemployment tax is 7271 and her income tax deduction is 3635 b Mrs Singers 201...View the full answer

Principles Of Taxation For Business And Investment Planning 2019 Edition

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