Martina,an Unmarried Individual with No Dependents,owns and Operates an Office

question 34

Essay

Martina,an unmarried individual with no dependents,owns and operates an office supply store as a sole proprietorship.The net income from the business is consistently $100,350 annually.Based solely on income taxes,consider whether the corporate form of business will produce tax savings.Assume Martina uses the standard deduction amount.

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Definitions:

Grammatically Correct

Conforming to the rules of grammar in a particular language, resulting in sentences or phrases that are structured correctly.

Referents

The actual thing or concept to which a word or symbol refers.

Differentia

The characteristic or set of characteristics that distinguishes one thing or category from another within a broader classification.

Genus

A term in taxonomy and logic referring to a class or group that shares common characteristics, serving as a means of categorizing entities.