Tommy and Jessica are married with three children, Sonny (age 2), Daughtery (age 7), and Elda (age 20). Elda is a child from Tommy's first marriage to Paula. Tommy has come to see you about some tax planning advice for him and his family. He is a consultant with $180,000 base salary. Jessica started her own jewelry-making business in 2021 , and she is deciding whether and how to incorporate it. She has two (2) staff members who help her with her sales and jewelry-making. She expects to pay herself a salary of $80,000 in 2023 . She wants to know some common business deductions in order to decrease her taxes. 1) On what forms would Jessica report her business income? What questions might you ask about her business and/or deductions might you propose? What type of business entity might make sense for Jessica, and why? 2) What filing status makes most sense for Tommy and Jessica? What dependency exemptions are available? What about personal exemptions? Why? 3) Tommy has had medical issues in 2021 and expects his expenses to be in excess of $35,000. Given that their state and local taxes exceed $15,000 and they are charitably inclined, what recommendations can you make about their deduction planning? What other questions might you ask? 4) Two years ago, Jessica purchased equipment for her jewelry-making business, paying $100,000. She has since taken $40,000 in depreciation. She has an offer to sell the equipment for $80,000 in order to buy new equipment and upgrade. What are the potential tax consequences and why