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Please help me! It is due tonight.... :(( PREPARE SCHEDULE C & SCHEDULE SE. Cassi (SSN 412-34-5670) has a cash-basis home cleaning business she runs
Please help me! It is due tonight.... :((
PREPARE SCHEDULE C & SCHEDULE SE.
Cassi (SSN 412-34-5670) has a cash-basis home cleaning business she runs as a sole proprietorship. The following are the results from business operations for the tax year 2017 $203,000 Gross receipts Business mileage: 27,000 (miles incurred ratably throughout the year) 35,000 miles total during the year 2017 Van (over 6,000 lbs) placed in service 1/01/17, cost 27,000 Postage Wages Payroll taxes Supplies Phone Internet service Rent Insurance Van expenses (500) (26,000) (1,950) (12,500) (1,250) (6e0) (2,400) (2,800) (4,5e0) Business assets Computer 1 Computer 2 Printer Copier Furniture Date Purchased Cost 6/01/17 3/01/16 3/02/16 3/01/16 $ 2,200 2,700 900 2,100 6,000 Determine Cassi's self-employment income and prepare Schedule C and Schedule SE, 179 expense is elected on all eligible assets ( 179 was not taken on assets purchased last year). (Use Table 6A-1) (Input all the values as positive numbers. Use Rounded values for tax computation. Do not round other intermediate Cassi (SSN 412-34-5670) has a cash-basis home cleaning business she runs as a sole proprietorship. The following are the results from business operations for the tax year 2017 $203,000 Gross receipts Business mileage: 27,000 (miles incurred ratably throughout the year) 35,000 miles total during the year 2017 Van (over 6,000 lbs) placed in service 1/01/17, cost 27,000 Postage Wages Payroll taxes Supplies Phone Internet service Rent Insurance Van expenses (500) (26,000) (1,950) (12,500) (1,250) (6e0) (2,400) (2,800) (4,5e0) Business assets Computer 1 Computer 2 Printer Copier Furniture Date Purchased Cost 6/01/17 3/01/16 3/02/16 3/01/16 $ 2,200 2,700 900 2,100 6,000 Determine Cassi's self-employment income and prepare Schedule C and Schedule SE, 179 expense is elected on all eligible assets ( 179 was not taken on assets purchased last year). (Use Table 6A-1) (Input all the values as positive numbers. Use Rounded values for tax computation. Do not round other intermediateStep by Step Solution
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