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please show calculations Taxpayer's information 2022 Billy Bob is 30 year's old and single. He is employed as a manager at a Garden Center. He
please show calculations
Taxpayer's information 2022 Billy Bob is 30 year's old and single. He is employed as a manager at a Garden Center. He also has a landscaping business. Income earned during 2022 Income received on a W2 from Garden Center Inc 82,000 Interest income - on personal checking account from BOA 75 Landscaping business receipts - taxpayer is a sole proprietor 15,600 From form 1099 NEC Expenses and deductions incurred during 2021 Federal Payroll taxes withheld on W-2 State Income tax withheld on W-2 Equipment rental for Landscaping business Landscape business supplies 5,800 4,000 750 600 Business mileage federal rate .625 10,000 Advertising Donations all paid with cash and the taxpayer has receipts Clothing donation - Fair Market Value Office expense (for the business) Subscriptions - to landscaping magazine Telephone \& Internet for business Travel business related Home mortgage interest received on form 1098 Real Estate (property) taxes paid on home Using the information provided above, please calculate the following a. Please list and calculate the itemized deductions b. calculate the taxpayers income from self-employment c. calculate the taxpayers taxable income d. Calculate the taxpayers self-employment tax. Taxpayer's information 2022 Billy Bob is 30 year's old and single. He is employed as a manager at a Garden Center. He also has a landscaping business. Income earned during 2022 Income received on a W2 from Garden Center Inc 82,000 Interest income - on personal checking account from BOA 75 Landscaping business receipts - taxpayer is a sole proprietor 15,600 From form 1099 NEC Expenses and deductions incurred during 2021 Federal Payroll taxes withheld on W-2 State Income tax withheld on W-2 Equipment rental for Landscaping business Landscape business supplies 5,800 4,000 750 600 Business mileage federal rate .625 10,000 Advertising Donations all paid with cash and the taxpayer has receipts Clothing donation - Fair Market Value Office expense (for the business) Subscriptions - to landscaping magazine Telephone \& Internet for business Travel business related Home mortgage interest received on form 1098 Real Estate (property) taxes paid on home Using the information provided above, please calculate the following a. Please list and calculate the itemized deductions b. calculate the taxpayers income from self-employment c. calculate the taxpayers taxable income d. Calculate the taxpayers self-employment taxStep by Step Solution
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