Tax Return Problem/Planning Problem Two Jane Smith, age 40, is single and has no dependents.

Tax Return Problem/Planning Problem TwoJane Smith, age 40, is single and has no dependents. She is employed as a legal secretary and also owns and operates her own sole proprietorship “Typing Services”. Jane is a material participant in the business and operates the business on the cash basis. During 2010, Jane had the following income and expenses:$50,000