23. (2.0 points) Molly, single, is self-employed. She reported $102,000 of self-employment income as her net...
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23. (2.0 points) Molly, single, is self-employed. She reported $102,000 of self-employment income as her net business income from her sole proprietorship business in 2021. The amount of self-employment tax (rounded) Molly is required to pay for 2021 is: a. b. c. d. e. 24. (2.0 points) Alan purchased his personal residence for $300,000 on June 1, 2021. He is employed full-time as a CPA at Henley & Anderson, CPAS, where his business office is located. If Section 179 is NOT elected and bonus depreciation is NOT claimed, the maximum depreciation Alan can deduct in 2021 on his personal residence is: a. b. C. d. $11,680. $12,648. $14,412. $15,606. none of the above. e. $2,087. $2,434. $4,173. $0. none of the above. 23. (2.0 points) Molly, single, is self-employed. She reported $102,000 of self-employment income as her net business income from her sole proprietorship business in 2021. The amount of self-employment tax (rounded) Molly is required to pay for 2021 is: a. b. c. d. e. 24. (2.0 points) Alan purchased his personal residence for $300,000 on June 1, 2021. He is employed full-time as a CPA at Henley & Anderson, CPAS, where his business office is located. If Section 179 is NOT elected and bonus depreciation is NOT claimed, the maximum depreciation Alan can deduct in 2021 on his personal residence is: a. b. C. d. $11,680. $12,648. $14,412. $15,606. none of the above. e. $2,087. $2,434. $4,173. $0. none of the above.
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Step 12 23 Molly is self employed she is self employed and earning for 2021 I... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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