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Question 63 of 75. Yolanda (41), a freelance photographer, reports a net profit of $50,000 on Schedule C, Profit or Loss fromQuestion 65 of 75. A self-employed taxpayer may be eligible to deduct amounts paid for medical insurance for themselves and fQuestion 66 of 75. All of the following are deductible business expenses reported in Part II of Schedule C, Profit or Loss frQuestion 67 of 75. Choose the response that accurately completes the following sentence. Gross receipts, reported as income i

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Answer #1

Answer:

63

total icome =50,000

slab rate

$0 to $9,875 =10% =987.50

$9,876 to $40,125 =12% = $3,630 ($30250*12%)

$40,126 to $85,525=22% = $2,172.50 (=9875 *22% ($50,000-$40,125)

Total =$6790 Answer

65

answer: Deduct the cost as a business expenses on schedule C

66

Contribtion to an employee 's proft sharing plan.

67

answer: Income reported to the taxpayer on form w-2

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