What is Ann home office deduction

Assignment Help Accounting Basics
Reference no: EM132705423

Problem - Ann is a self-employed restaurant critic who does her work exclusively from a home office. Ann's income is $25,000 before the home office deduction this year. Her office takes up 200 square feet of her 1,000-square-foot apartment. The total expenses for her apartment are $6,000 for rent, $1,000 for utilities, $200 for renter's insurance, and $800 for pest control and other maintenance. What is Ann's home office deduction? Please show your calculations.

Reference no: EM132705423

Questions Cloud

Impact the international environment : Globalization continues to impact the international environment in a variety of ways to include social, political, technological, and cultural influences.
What is the amount of Lew expenses : If the activity is deemed to be a hobby, what is the amount of Lew's expenses (if any) from the activity that may be deducted
What is the value per share : You have been asked to value a car dealership that has Free Cash Flow to the Firm projected at $350,000 for next year. This cash flow amount is expected to grow
Describe how each of the team members can contribute : Describe how each of the team members can contribute to resolving the problems BHD are facing and Describe at least one possible solution for each problem
What is Ann home office deduction : Ann is a self-employed restaurant critic who does her work exclusively from a home office. What is Ann home office deduction
How is used in managerial decision-making : How is used in managerial decision-making? Describe the 3 main categories of ratios and provide a specific example of a ratio that is used in each category.
Explain how the act affects organization security plan : Discuss how federal, state, and local law enforcement agencies enforce the act. Explain how the act affects an organization's security plan.
Describe the features of structured and inclusive meetings : Test the required knowledge in communicating with influence - Explain the legal requirements you would need to consider in order to maintain confidentiality
Calculate the largest deduction Randi can take : Assume Randi earns income of $3,400 for the year before deducting any home office or supplies deduction. Calculate the largest deduction Randi can take

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.

  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!

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