Jacob Weaver is a contractor operating as a sole proprietorship $($EIN $12-3456789).2021$ Gross income: $$278,322\mathrm{.}25.$ Business expenses: Fuel for equipment $$64,080\mathrm{.}00$ Repairs and maintenance $$17,342\mathrm{.}00$ Lubricants for Equipment $$9,670\mathrm{.}00$ Insurance $$6,500\mathrm{.}00$ Wages $$6,300\mathrm{.}00$ Vehicles $$1,768\mathrm{.}00$ Legal and Professional Expenses $$1,750\mathrm{.}00$ Taxes and Licenses $$1,412\mathrm{.}00$ Advertising $$300\mathrm{.}00$ Clients owe him a total of $$53,000,$ for work completed in $2021.2021$ estimated tax payments were $$25,000.$ He is using a bedroom in his house as a home office. $($Square footage of home $5,600$ Office $240$ sq$.$ ft$.)$

Complete the following:

Read the information provided in the scenario above.

Download the appropriate forms and publications from IRS.gov to complete this assessment.

Complete the entries on tax forms required for a sole proprietorship return.

Analyze official rules and instructions to correctly compute SE tax and SE deduction.

$1040$sc$.$

$1040$sse.

Determine eligible business deductions.

Interpret official rules and instructions to record correct entries on tax forms.

Submit the tax forms