User Account

All Pages

What cindy office in home deduction based on method

Assignment Help Accounting Basics
Reference no: EM132465796

Cindy, who is self-employed, maintains an office in her home that comprises 22% (260 square feet) of total floor space. Gross income for her business is $45,650, and her residence expenses are as follows:

Real property taxes     $4,956

Interest on mortgage     8,260

Operating expenses       4,130

Depreciation (based on 22% business use) 7,355

If required, round your final answer to the nearest dollar.

Question a. What is Cindy's office in the home deduction based on the regular method?

Question b. What is Cindy's office in the home deduction based on the simplified method?

Reference no: EM132465796

Questions Cloud

Discuss the accounting issues : How depreciation is fundamentally different from typical expense accounts. Also, explain what is meant by accumulated depreciation, and book value of an asset.
What are the revenue streams for techmall : What are the revenue streams for TechMall?What drives each of the revenue streams and how much does Tech Mall expect to earn from each stream?
What was the average inventory balance : What was their average inventory balance using the reported amounts? What was their average inventory balance using the replacement cost amounts?
Determine how much may roger deduct : How much may Roger deduct?How much may Roger deduct if he is self-employed and earned $86,800? Is the deduction for AGI or from AGI?
What cindy office in home deduction based on method : What is Cindy's office in the home deduction based on the regular method?What is Cindy's office in the home deduction based on the simplified method?
How much can samantha deduct for the law school expenses : Assuming no reimbursement, how much can Samantha deduct for the CPA exam review course?how much can Samantha deduct for the Law school expenses?
Prepare AJEs that should be made end of the accounting : Prepare AJEs that should be made on 12-31-15, the end of the accounting year, for each of the following situations. If no AJE is required, indicate "none
What were advertising-related revenues : What were advertising-related revenues for 2015?How much cash was paid out for wages and salaries during 2015?What was interest expense for 2015?
Determine overall planning materiality : Determine overall planning materiality and performance materiality. (Explain the rationale for all components of the calculation and support)

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd