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Income Taxable Income Sales COGS Dividends (own 5%) Muni Bond Interest Expenses Capital loss Interest Expense Operating Expenses Key Life Insurance Premiums Taxable Current
Income Taxable Income Sales COGS Dividends (own 5%) Muni Bond Interest Expenses Capital loss Interest Expense Operating Expenses Key Life Insurance Premiums Taxable Current Amount Income E&P 176,500 412,000 412,000 150,000 (150,000) 133,000 1,000 133,000 1,000 32,935 (32,935) 5,000 (5,000) 120,000 (120,000) 6,000 (6,000) 270,000 Taxable income before Special Deductions Charitable Contributions Dividend Receivable Deduction Taxable Income Federal Income Tax 30,000 (27,000) (3,000) (66,500) 66,500 176,500 37,065 (37,065) Current E&P 165,000
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