Question
Shota, who is single with no dependents, has the following for the calendar year 2018: RECEIPTS FOR YEAR Gross income from planning practice$ 106,200 Business
Shota, who is single with no dependents, has the following for the calendar year 2018:
RECEIPTS FOR YEAR
Gross income from planning practice$ 106,200
Business expenses for practice 32,100
Interest from Friendly Bank4,236
EXPENDITURES FOR YEAR
Contribution to Solo(k) retirement plan 1,992
QBI Deduction14,820
Itemized deductions11,400
How much is Shota's self-employment tax, adjusted gross income and taxable income?
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Financial Accounting
Authors: Jeffrey Waybright, Robert Kemp, Sherif Elbarrad
2nd Canadian edition
133375536, 9780133845396, 133845397, 978-0133375534
