4. Sam is single, under 65, and has no children. He claims a standard deduction....
90.2K
Verified Solution
Link Copied!
Question
Accounting
4. Sam is single, under 65, and has no children. He claims a standard deduction. He has his own business:
Consulting Income 150,000
Rent 12,000
Travel 10,000
Country club dues 6,000
Miles are 3,000 driven throughout the year
Meals 4,000
Supplies 3,000
Federal estimated tax payments 20,000
Compute his tax due or refund. Be sure to compute his self-employment tax and qualified business income deduction. PLEASE USE 2019 TAX LAW
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.