Kaylee Is a Self-Employed Investment Counselor Who Also Owns a Rental

Kaylee is a self-employed investment counselor who also owns a rental property.This year,she collected $85,000 in fees and paid the following expenses:
Health insurarne premiurs (not through ar excharge)                $\$ 4,200$
Life insurarce premiurs (whole life)                                           $1,900$
Books on irvesting                                                                       $200$
Repairs of the rental property                                                        $450$
Advertising for irvestruent clients                                              $1,770$
State incorne taxes                                                                      $4,300$
Self employment tax (1/2 is employer share)                            $11,732$
Kaylee files single with one personal exemption.Calculate her adjusted gross income.

Correct Answer:

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$72,514 = $85,000 − $12,486
The books on...

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