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Im having trouble with this one! Orle and Jane, husband and wife, operate a sole proprietorship. They expect their taxable income next year to be
Im having trouble with this one!
Orle and Jane, husband and wife, operate a sole proprietorship. They expect their taxable income next year to be \\( \\$ 450,000 \\), of which \\( \\$ 250,000 \\) is attributed to the sole proprietorship. Orle and Jane are contemplating incorporating their sole proprietorship. (Use the tax (ate schediule) Required: o. Using the married-joint tax brackets and the corporate tax fate, find out how much current tax this strategy could save Orie and Jane. b. How much income should be left in the corporation? Complete this question by entering your answers in the tabs below. Using the married-joint tax brackets and the corporate tax rate, find out how much current tax this strotogr could save Orie and lane. 2023 Tax Rate Schedules Individuals Step by Step Solution
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