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Mr. Jimbo salary = 56,000 Mrs. Jimbo Schedule C Net profit = 43,300 Interest income = 1,800 Mrs. Jimbo's self employment tax was 6,118. Mrs.
Mr. Jimbo salary = 56,000
Mrs. Jimbo Schedule C Net profit = 43,300
Interest income = 1,800
Mrs. Jimbo's self employment tax was 6,118.
Mrs. Jimbo's. net business profit is qualified business income.
Compute their taxable income & income tax owed on a joint income tax return filing as married filing jointly using 2021 rates of 25,100 for Standard deducation, and 2021 tax rates
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