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please help me sove this question Moana is a single taxpayer who operates a sole proprietorship. She expects her taxable income next year to be
please help me sove this question
Moana is a single taxpayer who operates a sole proprietorship. She expects her taxable income next year to be $250.000, of whic: $200.000 is attributed to her sole proprietorship. Moana is contemplating incorporating her sole proprietorship. (Use the tax rate: schedule) Required: 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 Secunty. Medicare, or self-employment tax issues). Note: Round your intermediote calculations and final answer to the nearest whole dollar amount. b. How much income should be left in the corporation? Complete this question by entering your answers in the tabs below. 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). Note: Round your intermedate calculations and final answer to the nearest whole dotar amount. Individuals Soland..1n V c:u-n- Schedule V_1-Marrind Eal:... T_:..A. Schedule 7 Hasd af Step by Step Solution
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