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Georgia a single taxpayer operates a business that produces $200,000 of income before any amounts are paid to her. She has no dependents and no
Georgia a single taxpayer operates a business that produces $200,000 of income before any amounts are paid to her. She has no dependents and no other income. SHe has itemized deductions of 18,000. compute the total income tax that would be paid assuming the following additional facts. Ignore payroll taxes and the qualified business income deduction.
a. georgia operates the business as a s corporation receiving a salary from the corporation of $70,000. the corporation distributes its remaining income to the shareholders.
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