Question
Javin is 35 years old, files single, and has the following items in 2020: Business Revenue: $120,000 Business Cost of Goods Sold: $60,000 Business Rent
Javin is 35 years old, files single, and has the following items in 2020: Business Revenue: $120,000 Business Cost of Goods Sold: $60,000 Business Rent Expense: $30,000 Contribution to Roth Ira: $5000 Self-Employed Health Insurance: $15,000 Total Self-Employment tax on business income: $7500 Interest Income: $15,000 Qualified Dividends: $5000 Medical Expenses: $5000 Property Taxes: $8000 Charitable Contributions: $500
3 Part question. Please label your answers clearly.
A. What is Javins 2020 Gross income?
B. What is Javins 2020 AGI?
C. What is Javins 2020 Taxable Income?
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A Non-Technical Guide To International Accounting
Authors: Roger Hussey, Audra Ong
1st Edition
1946646865, 9781946646866
