What is calvins gross sales revenue for business income

Reference no: EM133610116

Question: Calvin Sparky - Business Income Calvin Sparky is an electrician operating his own business as a sole proprietorship. In recent years, he has found himself spending time more time preparing accounting and tax records and less of electrician work. For 2023 tax year, he has decided to hire you, a professional accountant to prepare his tax returns this year. He provides you with the following financial items he has on his company: Revenue - Sales Revenue - Casino Winnings Expenses: Food Electrician licensing fees Office expenses Travel Gym membership fees Insurance City parking infraction tickets Depreciation Other information gathered through an interview with Mr. Sparky: Food is only recorded when Mr. Sparky is out on a job and has worked at least 4 hours. On days not out on a job, Mr. Sparky goes to the gym to keep fit as his job is physically demanding. Insurance included both business insurance and life insurance on Mr. Sparky. Casino winnings were won on a business trip to Montreal. If GROSS SALES REVENUE was 80,300, what is Calvin's Gross Sales Revenue for Business Income for tax purposes?

Reference no: EM133610116

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