What can the business person do

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Question: Review Gaytor's 2023 return (Cumulative Problem at the end of chapter) and its related tax return solution (I uploaded the tax return for your review study)Links to an external site.. Select one taxable issue of Gaytor as it relates to schedule C - whether it be about income or deductions. Explain all tax relevant issue of that selected topic, referenced back to Gaytors return (so I know you review the return). Summarize how is that information is being reported and flow from the originated form to the 1040 of the chapter's Gaytor tax return

One may claim there is a lot of abuse in reporting the self-employed business expense. Some of the deductions are mix-purpose in nature (both personal and business). Please provide an example of such expense and what can the business person do? What is its tax laws relating to that issue?

What advice can you give that is unique to the self-employed individual (vice W-2 employee)?

Reference no: EM133771727

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