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Jayzee is a single taxpayer who operates a sole proprietorship. He wants to minimize his current federal income tax liability. He expects his taxable income

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Jayzee is a single taxpayer who operates a sole proprietorship. He wants to minimize his current federal income tax liability. He expects his taxable income next year to be $150,000, of which $125,000 is attributed to his sole proprietorship Jayzee is contemplating incorporating his sole proprietorship. Using the 2021 single individual tax brackets and the corporate tax brackets, how much current tax could this strategy save Jayzee? (Ignore any Social Security, Medicare, or self-employment tax issues) How much income should be retained in the corporation? How much current tax could this strategy save Jayzee? How much income should be retained in the corporation

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