Business, 14.02.2020 02:28 juliana0122

Barbara Gonzales, age 53, is a self-employed tax attorney (social security number 444-88-9999). She is supporting her mother, Martha Garza, age 85 who lives with her. Martha’s social security number is 666-99-4444. Barbara lives in a rental at 4597 Campbell Ave. Campbell, CA 95008

Barbara’s office is located at 6578 Hamilton Ave. Ste. 456, San Jose, CA 95130. Her business name is her name- Barbara Gonzales, Attorney. She materially participates in her business. She has the following income and expenses pertaining to her business.

Barbara’s gross receipts for 2017 $189,300

Expenses:

Insurance $5800

Office Supplies $4897

Payroll $49,455

Depreciation $1489 ( on her office furniture and computer and printers- you do not have to prepare a depreciation form)

Telephone and internet $5699

Rent $ 18000

Advertising $ 1264

Software fees for tax preparation $8,451

Education needed to keep up on latest tax laws $2575

The business uses the cash basis of accounting.

Other income includes Interest from Wells Fargo, $249.

You do not have to calculate self-employment taxes as this will be covered in another chapter. Barbara sent estimated tax payments to the IRS for the 2017 taxes totaling $15000.

Prepare Barbara’s Form 1040 tax return for 2017. You should also prepare a Schedule C.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 17:30

After the embarrassing sign incident at the restaurant you own, you decide to offer employees a six-week fundamental writing skills workshop. a local business communication instructor, who has experience teaching writing skills at treleaven community college, will facilitate the sessions. to encourage employees to attend these optional sessions, write an email that explains why you’re offering the workshop and why employees should participate.

Answers: 2

Answer

Business, 22.06.2019 21:00

At present, the united states has an embargo against north korea because a. the two countries have extremely poor political relations. b. north korea will not adopt a capitalist government. c. north korean products are too difficult to use. d. north korea has an embargo on american products. e. products from north korea are in higher demand than american-made products.

Answers: 2

Answer

Business, 22.06.2019 21:20

Label each of the following statements true, false, or uncertain. explain your choice carefully. a. workers benefit equally from the process of creative destruction. b. in the past two decades, the real wages of low-skill u.s. workers have declined relative to the real wages of high-skill workers. c. technological progress leads to a decrease in employment if, and only if, the increase in output is smaller than the increase in productivity. d. the apparent decrease in the natural rate of unemployment in the united states in the second-half of the 1990s can be explained by the fact that productivity growth was unexpectedly high during that period.

Answers: 3

Answer

Business, 22.06.2019 23:30

Decision alternatives should be identified before decision criteria are established. are limited to quantitative solutions are evaluated as a part of the problem definition stage. are best generated by brain-storming.

Answers: 1

Answer

You know the right answer?

Barbara Gonzales, age 53, is a self-employed tax attorney (social security number 444-88-9999). She...

Questions