Tag Archives: Komon

Calculate LS’s business taxable income for year 2022. What is Max’s 2022 tax liability assuming Max files as a single for 2022. Ignore any potential tax credits, self-employment, or employment taxes

Excel in company analytic. Max opened Learning Smart (LS) as a sole proprietorship, providing online education to school–age kids, specializing in art and STEM. Business has been booming since started. In 2022, he provided the following financial information relating to his business. LS is using accrual method of accounting. Financial Information:a. During the year, LS […]