Daniel owns a business that he operates as a sole proprietorship. The business had a net profit
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Daniel owns a business that he operates as a sole proprietorship. The business had a net profit of $180,000 in 2019. This is Daniel’s only earned income.
a. How much must he pay for self-employment taxes?
b. How much can he deduct on his tax return?
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Related Book For
Taxation For Decision Makers 2020
ISBN: 9781119562108
10th Edition
Authors: Shirley Dennis Escoffier, Karen Fortin
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