Question: I need help please. It says to prepare schedule C and SE. Cassi (SSN 412-34-5670) has a cash-basis home cleaning business she runs as a

I need help please. It says to prepare schedule C and SE.


Cassi (SSN 412-34-5670) has a cash-basis home cleaning business she runs as a sole proprietorship. The following are the results from business operations for the tax year 2017:

 

 Gross receipts$203,000 Business mileage: 27,000 (miles incurred ratably throughout the year) 35,000 miles total during the year 2017   Van (over 6,000 lbs) placed in service 1/01/17, cost 27,000   Postage (500)Wages (26,000)Payroll taxes (1,950)Supplies (12,500)Phone (1,250)Internet service (600)Rent (2,400)Insurance (2,800)Van expenses (4,500)

 

Business Date Purchased Cost 

Computer 15/18/17 $2,200 

Computer 26/01/17  2,700 

Printer 3/01/16  900 

Copier 3/02/16  2,100 

Furniture 3/01/16  6,000 

 

Determine Cassi's self-employment income and prepare Schedule C and Schedule SE. § 179 expense is elected on all eligible assets (§ 179 was not taken on assets purchased last year). (Use Table 6A-1)

(Input all the values as positive numbers. Use Rounded values for tax computation. Do not round other intermediate computations. Round your final answers to nearest whole dollar.)

I need help please. It says to prepare schedule C and SE.Cassi

Cassi (SSN 41273475670) has a cashebasis home cleaning business she runs as a sole proprietorship. The following are the results frombusiness operations for the tax year 2017: Gross receipts $283,888Business mileage: 27,888 {miles incurred ratably throughout the year) 35,888 miles total during the year 2817 Van (over 6,888 lbs) placed in service 1/81/17, cost 27,888 Postage (588)Wages (26,888)Payroll taxes (1,958)Supplies (12,588)Phone (1,258)Internet service (688)Rent (2,488)Insurance (2,888)Van expenses (4,588)IBusiness assets Date Purchased CostComputer 1 5/18/17 $ 2,288Computer 2 6/8171? 2,788Printer 3f81f16 988Copier- 3f82f16 2, 188Furniture 3f81f16 6,888 Determine Cassi's self—employment income and prepare Schedule C and Schedule SE. § 179 expense is elected on all eligible assets (§179 was not taken on assets purchased last year). [Use Table 6A—1](Input all the values as positive numbers. Use Rounded values for tax computation. Do not round other intermediate panning-inn: Danna-l until» final .Hclllale IA Ina-ran:- Inhale plnllnv'l

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!