Cassi (SSN 412-34-5670) has a cash-basis home cleaning business
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Cassi (SSN 412-34-5670) has a cash-basis home cleaning business

Cassi (SSN 412-34-5670) has a cash-basis home cleaning business she runs as a sole proprietorship. The following are the results from business operations for the tax year 2018:


Determine Cassi’s self-employment income and QBI deduction. Prepare Schedule C and Schedule SE. § 179 expense is elected on all eligible assets (§ 179 was not taken on assets purchased last year). (Use Table 6A-1)

(Input all the values as positive numbers. Use Rounded values for tax computation. Do not round other intermediate computations. Round your final answers to nearest whole dollar.)


Hint
Accounts and FinanceA sole proprietorship is a business enterprise that is solely owned and managed by one person and at such, there is no distinction between the business entity and the owner. This kind of business is easy to manage and also to control. The manager however takes the responsibility for all the losses incurred....

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