S & S Home Cleaning $,$Inc.

Address : $17323$ Sparke Way $.$ Bristol, CT $06010$

EIN $09-000-6423$

Entity Type : S Corporation

Business Activity : House cleaning

Business code $561720$

Date Incorporated : January $10,2023$

S Corporation election effective date : January $10,2023$

Accounting method : CashSamtyns@net.nrSam

Authorize IRS to diocuss : Yes

Officer ; Samantha Tynsdale

Title: President

SS # $236-00-1021$

Business phone number $860-555-6433$

Email : Samtyns@net.net

Shareholder Information:

Name : Samantha Tynsdale

SS # : $236-00-1021$

Address: $17323$ Sparkle Way $,$ Bristol, CT $06010$

Type of Entity : S Corporation

Percentage of Ownership $50\%$

Authorized Shareholder for tax matter : Yes

S Corporation loan basic $12-31-2023.$ $ $2,500$

Name : Sandra Kingston

SS# $236-00-1022$

Address : $14525$ Sutton Place

Bristol, CT $06010$

Title : Vice President

Type of entity : S Corporation

Percentage of Ownership : $\%$

Income from Operation

Gross receipts $ $141,000$

Return $($ $$600)$

$\_\_\_\_\_\_\_\_\_\_$

Gross Income $ $140,000$

$1.$Expenses

A$.$ Adverting $ $1,550$

B$.$ Depreciation $770$

C$.$ T$.$ Shirts with logo $180$

D$.$ Vacuum Cleaners $(3)$ @ $$110$ each $330$

E$.$ Cleaning caddies @ $ $65(3)$ each $195$

Total Wages $85,000$

A$.$ Shareholder wages $ $60,000$

B$.$ Employee wages $25,000$

Shareholder Heath Insurance premiums $4,200$

cleaning supplies $7,295$

Accountable plan reimbursements

Tynsdale $2350$ miles of $65\mathrm{.}5$ cents p$/$ mile $15394,790$

Tynsdate OIP $1859$

Kensington $2125$ miles at $65\mathrm{.}5$ cents $1392$

Business license $500$

Federal & State payroll Taxes $$9,945$

Charitable contribution $($ each contribution to local school district$)725$

Total Expenses $---------------$

$ $115,480$

Net Income $24,920$

Question $.$

Base on the information provided, how much was thge total income for S & S Cleaning $,$ Inc

A$.$ $ $25,645$

B$.$ $ $140,400$

C$.$ $ $141,000$

D$.$ $ $141,600$

Question $\mathrm{.}2$

For S & S Cleaning $,$ Inc what line $($s$)$ of Form $1120-$S will report the health insurance premiums paid for the more$-$than $2\%$ shareholders $?$

A$.$ From $1120-$S page $1$ line $7$

B$.$ Form $1120-$S$,$ page $4$ line $17$ d$.$

C$.$ Form $1120-$S $,$ page $1$ line $7$ and page $4$ line $17$d$.$

D$.$ The insurance premiums paid are only reported on the shareholder's Forms W$-2.$

Questions $3.$ Samantha Tynsdale $,$ one of the employee shareholders of S&S Home cleaning $,$ Inc., received $$30,000$in salary, had health premiums paid on her behalf of $ $2,100$ and received reimbursements totaling $$1,539$ for mileage and $$1,859$ for office$-$in home expense $.$ How much income will be reported in box $1$ of her Form W$-2$ for $2023?$

A$.$ $$30,000$

B$.$ $$32,100$

C$.$ $ $33,639$ D$.$ $$35,498$ Question # $4$

What are the total assts for S&S Home Cleaning, Inc for $2023?$

A$.$ $$141,000$

B$.$ $ $42,420$

C$.$ $ $25,645$