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 2016:
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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 2016 Gross receipts Business mileage: 27,000 (miles incurred ratably throughout the year) 35,000 miles total during the year 2016 Van (over 6,000 Ibs) placed in service 1/01116, cost 27,000 Postage Wages Payroll taxes Supplies Phone Internet service Rent Insurance Van expenses $203,000 (500) (26,000) (1,950) (12,500) (1,250) (600) (2,400) (2,800) (4,500) Business assets Computer 1 Computer 2 Printer Copier Fumiture Dale Purchased 5/18/16 6/0116 3/01/15 3/0215 3/01/15 Cost 2,200 2,700 900 2,100 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). (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.) 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 2016 Gross receipts Business mileage: 27,000 (miles incurred ratably throughout the year) 35,000 miles total during the year 2016 Van (over 6,000 Ibs) placed in service 1/01116, cost 27,000 Postage Wages Payroll taxes Supplies Phone Internet service Rent Insurance Van expenses $203,000 (500) (26,000) (1,950) (12,500) (1,250) (600) (2,400) (2,800) (4,500) Business assets Computer 1 Computer 2 Printer Copier Fumiture Dale Purchased 5/18/16 6/0116 3/01/15 3/0215 3/01/15 Cost 2,200 2,700 900 2,100 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). (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.)
