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Discuss what is chens taxable income

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Reference no: EM131784057

Chen is a single person, age 35, with no dependents. In 2016, Chen has gross income of$80,000 from his sole proprietorship. Chen also incurs $75,000 of deductible business expenses in connection with his proprietorship. He has interest and dividend income of 22,000.

Chen has no itemised deductions. What is Chens taxable income

Reference no: EM131784057

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Discuss what is chens taxable income : Chen also incurs $75,000 of deductible business expenses in connection with his proprietorship
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