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Discuss contemplating incorporating sole proprietorship

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Orie and Jane, husband and wife, operate a sole proprietorship. They expect their taxable income next year to be $300,000, of which $125,000 is attributed to the sole proprietorship. Orie and Jane are contemplating incorporating their sole proprietorship. (Use thetax rate scheduleandcorporate income tax brackets).

Using the married-joint tax brackets and the corporate tax brackets, find out how much current tax this strategy could save Orie and Jane.

Reference no: EM131768896

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