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How much taxable should each of the following taxpayers report?

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How much taxable should each of the following taxpayers report?;a. Kimo builds custom surfboards. During the current year, his total revenues are $90,000, and he incurs $30,000 in expenses. Included in the $30,000 is a $10,000 payment to Kimo?s five-year-old son for his services as an assistant

 

Paper#79227 | Written in 18-Jul-2015

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