Calculate cindys deduction for home office expenses b

Assignment Help Accounting Basics

Reference no: EM13481685

Cindy operates a computerized engineering drawing business from her home. Cindy maintains a home office and properly allocates the following expenses to her office. Depreciation $1,500 Utilities 500 Real estate taxes 325 Mortgage interest (100 percent deductible) 500 a. Assume that Cindy earns income of $2,400 from her business for the year before deducting home office expenses. She has no other expenses associated with the business. Calculate Cindy's deduction for home office expenses. b. Assume Cindy earns income of $2,600 from her business during the year before deducting home office expenses. Calculate Cindy's deduction for home office expenses.

Reference no: EM13481685

Questions Cloud

Within one year of the contribution red constructs a : allie forms broadbill corporation by transferring land basis of 125000 fair market value of 775000 which is subject to

Berg company adopted a stock-option plan on november 30 : berg company adopted a stock-option plan on november 30 2013 that provided that 73200 shares of 5 par value stock be

Haft construction company has consistently applied the : haft construction company has consistently applied the percentageof completion method. on jan 10 2008 haft began work

Assume that it is the end of 2006 the first full year of : review the chapter explanations of the income statement andthe balance sheet equations. apply these equations in each

Calculate cindys deduction for home office expenses b : cindy operates a computerized engineering drawing business from her home. cindy maintains a home office and properly

At year-end december 31 chan company estimates its bad : at year-end december 31 chan company estimates its bad debts as 0.30 of its annual credit sales of 753000. chan records

In the past he has used the standard mileage method to : george dick an employee of plum corporation drove his car a total of 17.966 miles during 2008. of the total miles

Alyssas custom cakes currently sells 5 birthday 2 wedding : alyssas custom cakes currently sells 5 birthday 2 wedding and 3 specialty cakes each month for 50 150 and 100 each

Sam has promised to make four payments to joe each : sam has promised to make four payments to joe. each paymentis in the amount of 1000. what is the present value of these

User Account

All Pages