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Old 03-07-2013, 08:57 AM  
L-Pink
working on my tan
 
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Join Date: Mar 2005
Location: Florida/Kentucky
Posts: 39,151
Your business will show an income of $100. It should then show a check going out for $80. Gives you a taxable income of $20.

Income less commissions/expenses = profit. Tax is on profit.

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