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Georgia operates a business that produces $100,000 of income before any amounts are paid to her. She is married, and her spouse receives $90,000
Georgia operates a business that produces $100,000 of income before any amounts are paid to her. She is married, and her spouse receives $90,000 of salary from an unrelated employer. They file jointly, have $31,000 of itemized deductions, and have no dependents. (The tax year is 2021.) (Click the icon to view the standard deduction amounts.) (Click the icon to view the 2021 tax rate schedule for the Married filing joint filing status.) Read the requirement. a. Georgia operates the business as an S corporation receiving a salary from the corporation of $70,000. The corporation distributes all of its remaining income to the shareholders. Begin by calculating taxable income for Georgia under this scenario. Minus: Taxable income
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