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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

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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 solo 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.) Current tax saved b. How much income should be left in the corporation? Income len

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