Eva received $73,000 in compensation payments from JAZZ Corp. during 2019. Eva incurred $16,000 in business expenses relating to her work for JAZZ Corp. JAZZ did not reimburse Eva for any of these expenses. Eva is single and she deducts a standard deduction of $12,200. Based on these facts answer the following questions: Assume that Eva is considered to be a self-employed contractor. What is her regular tax liability for the year?
Eva received $73,000 in compensation payments from JAZZ Corp. during 2019. Eva incurred $16,000 in business expenses relating to her work for JAZZ Corp. JAZZ did not reimburse Eva for any of these expenses. Eva is single and she deducts a standard deduction of $12,200. Based on these facts answer the following questions: Assume that Eva is considered to be a self-employed contractor. What is her regular tax liability for the year?
Chapter15: Taxing Business Income
Section: Chapter Questions
Problem 21P
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Eva received $73,000 in compensation payments from JAZZ Corp. during 2019. Eva incurred $16,000 in business expenses relating to her work for JAZZ Corp. JAZZ did not reimburse Eva for any of these expenses. Eva is single and she deducts a standard deduction of $12,200. Based on these facts answer the following questions:
Assume that Eva is considered to be a self-employed contractor. What is her regular tax liability for the year?
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT