Question: Calculate the estimated tax for a Schedule C business using the following information: o Revenue - $50,000 I o Expenses $30,000 o Federal tax

Calculate the estimated tax for a Schedule C business using the following

Calculate the estimated tax for a Schedule C business using the following information: o Revenue - $50,000 I o Expenses $30,000 o Federal tax rate of 22%, State tax rate of 6%, Self-Employment (SE) tax rate from the IRS reading. o To keep it simple, there are no other deductions to consider. Calculate the net income for this business including taxes.

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