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Jason M. Tyra, CPA
Jason M. Tyra, CPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 178
Experience:  Principal at Jason M. Tyra, CPA, PLLC
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I am doing a business plan business I wish to setup up. I

Customer Question

HelloI am doing a business plan for a business I wish to setup up.I have calculated that I will earn $2100 gross per weekI will have to pay weekly expenses of $350 rent, 100 on fuel and $200 on other business expenses. I will also be paying 10% of my earning towards my super, so say $210 (is this tax deductable?) But I can adjust this depending on whether or not it is tax deductableI am just wanting to know how much tax I will pay approximately per? Taking into account that I will be contributing to my super and my other expenses.Basically I am trying to work out a figure for how much I should put away for super. I really need to net about $1200 - $1400 a week
Submitted: 1 year ago.
Category: Tax
Customer: replied 1 year ago.
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Expert:  Jason M. Tyra, CPA replied 1 year ago.


I'm not sure what you mean by "super" here, but if you are a US taxpayer then almost all of your ordinary and necessary business expenses would be deductible under Section 162. The resulting net income is taxable at the ordinary income rate, plus you will also owe self-employment tax at the end of the year. The ordinary income rate ranges between 10% and 39.6%, depending on your total income. Self employment tax is 15.3%.

Customer: replied 1 year ago.
I live in australia. Super is our retirement fund. Similar to your 401 i think you call it
Expert:  Jason M. Tyra, CPA replied 1 year ago.

Ah- I'll have to opt out, then. I can tell you all about US tax law, but know nothing about Australian.

Customer: replied 1 year ago.
That's fine. Thank you