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wilhelmina operates a daycare center in her home as a sole proprietorship. She has gross revenues of $15,000 and the following expenses: cost of food
wilhelmina operates a daycare center in her home as a sole proprietorship. She has gross revenues of $15,000 and the following expenses: cost of food $1,200; allocated costs of using the home $900; allowable depreciation $500; reasonable salary for 16 year old daughter for after-school help $3000. a. Determine Wilhelmina's net income from the sole proprietorship in 2015? b. Determine Wilhelmina's total of self-employment and income taxes if her marginal tax rate is 25 percent.
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