1 000 dollar loans online in Pennsylvania

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Payday Loan in Pennsylvania

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    Janice Morgan, age 32, is single and has no dependents. She is a freelance writer. In January 2011, Janice opened her own office located at 2751 Waldham Road, Pleasant Hill, Pennsylvania 88135. She called her business Writers Anonymous. Janice is a cash basis taxpayer. She lives at 132 Stone Avenue, Pleasant Hill, Pennsylvania 88135. Her Social Security number is 123–45–6789. Janice wants to contribute to the Presidential Election Campaign Fund. During 2011, Janice had the following income and expense items connected with her business: Income from sale of articles $105,000 Rent 16,500 Utilities 7,900 Supplies 1,800 Insurance 5,000 Travel (including meals of $1,200) 3,500 Janice purchased and placed in service the following fixed assets for her business: • Furniture and fixtures (new) costing $17,000 on January 10, 2011. • Computer equipment (new) costing $40,000 on July 28, 2011. Janice did not elect immediate expensing under § 179. She elected not to take additional first-year depreciation. Janice’s itemized deductions are as follows: State income tax $3,000 Home mortgage interest paid to First Bank 6,000 Property taxes on home 1,500 Charitable contributions 1,200 Janice did not keep a record of the sales tax she paid. The amount from the sales tax table is $437. Janice has interest income of $5,000 on certificates of deposit at Second Bank. Janice makes estimated tax payments of $17,000 for 2011. Compute Janice Morgan’s 2011 Federal income tax payable (or refund due). If you use tax forms for your computations, you will need Forms 1040 and 4562 and Schedules A, B, C, and SE. Suggested software: H&R BLOCK At Home

    Self employed independent contractor using your daily written receipt book records to report your gross income on the schedule C or CEZ along with the SE to determine your NET PROFIT or LOSS from your business income during the tax year for this purpose. SE your social security medicare tax amounts that you would OWE on your NET profit amount that would end up the page 1 line 12 from the schedule C and any SE tax owed page 2 line 56 and page 1 line 27 Deductible part of self employment tax attach schedule SE line 27 $$$ amount. Starting, Operating, or Closing a Business Starting a Business Starting a business could be exciting. If you're considering starting a business, start here. This section provides information on everything from a checklist for a new business, to selecting a business structure, and more. www.irs.gov/Businesses/Small-Businesse... www.irs.gov/Businesses/Small-Businesse... Hope that you find the above enclosed information useful. 06/20/2013

    Probably should do your own coursework so you actually learn something.

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    Sharon Homenick
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    Anderson O'Keefe
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