{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T14:13:41-04:00", "answer_date": "2024-05-26 14:13:41", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1744238", "url": "\/study-help\/questions\/moana-is-a-single-taxpayer-who-operates-a-sole-proprietorship-1744238", "question_creation_date_js": "2024-05-26T14:13:41-04:00", "question_creation_date": "May 26, 2024 02:13 PM", "meta_title": "[Solved] Moana is a single taxpayer who operates a | SolutionInn", "meta_description": "Answer of - Moana is a single taxpayer who operates a sole proprietorship. She expects her taxable income next year to be $250,000 | SolutionInn", "meta_keywords": "moana,single,taxpayer,operates,sole,proprietorship,expects,taxable,income,year,$250,000,$200,000", "question_title_h1": " Moana is a single taxpayer who operates a sole proprietorship. She expects her taxable income next year to be $250,000, of which $200,000 is", "question_title": " Moana is a single taxpayer who operates a sole proprietorship. She", "question_title_for_js_snippet": "Moana is a single taxpayer who operates a sole proprietorship She expects her taxable income next year to be $250,000, of which $200,000 is attributed to her sole proprietorship Moana is contemplating incorporating her sole proprietorship (Use the tax rate schedule ) a Using the single individual tax brackets and the corporate tax rate, find out how much current tax this strategy could save Moana (ignore any Social Security, Medicare, or self employment tax issues) (Do not round your intermediate calculations Round your final answer to two decimal places ) Answer is complete but not entirely correct Current tax saved $ 12,550 00 b How much income should be left in the corporation Answer is complete but not entirely correct Income left $ 87,750", "question_description": "\"image\"image\"image", "transcribed_text": "Moana is a single taxpayer who operates a sole proprietorship. She expects her taxable income next year to be $250,000, of which $200,000 is attributed to her sole proprietorship. Moana is contemplating incorporating her sole proprietorship. (Use the tax rate schedule.) a. Using the single individual tax brackets and the corporate tax rate, find out how much current tax this strategy could save Moana (ignore any Social Security, Medicare, or self-employment tax issues). (Do not round your intermediate calculations. Round your final answer to two decimal places.) Answer is complete but not entirely correct. Current tax saved $ 12,550.00 b. How much income should be left in the corporation? Answer is complete but not entirely correct. Income left $ 87,750", "related_book": { "title": "Fundamental financial accounting concepts", "isbn": "978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365", "edition": "8th edition", "authors": "Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/264.jpg", "uri": "\/textbooks\/fundamental-financial-accounting-concepts-8th-edition-264", "see_more_uri": "" }, "free_related_book": { "isbn": "0142410861", "uri": "\/textbooks\/encyclopedia-brown-shows-the-way-978-0142410868-116270", "name": "Encyclopedia Brown Shows The Way", "edition": "" }, "question_posted": "2024-05-26 14:13:41", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/starting-on-january-1-2024-you-put-125-every-month-713315", "description": "Starting on January 1, 2024, you put $125 every month into an account with an APR of 4.10%. Your last payment is on December 1, 2032. 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