Adam comes to you for tax advice. He started his own photography business this year...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Adam comes to you for tax advice. He started his own photography business this year and after expenses cleared 823,500. He is married and his wife has no income. He tells you he thinks he owes no taxes and does not even need to file a tax return. Advise him and compute any amounts he most pay to the Treasury Department. Assume this is tax year 2021. Is he required to file a tax return
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
