Vince Smiles owns and operates a dental practice. In the current year, Vince had the following items
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Question:
Vince Smiles owns and operates a dental practice. In the current year, Vince had the following items of income and expenses with respect to his dental practice:
Gross revenue
$
Rent expense
Wages paid to employees
Wages paid to Marty
Payroll taxes for employees
Supplies expense
Insurance expense
Depreciation expense
Business meals
Health insurance for employees
Health insurance for Marty
Business bad debt allowance method
State income taxes for the business
Calculate the following:
Vinces taxable income
Vinces SelfEmployment Tax. Use the following FICA rates for :
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: