The following are common expenses taken on Schedule C except: Choose one answer. a. Advertising b....
The following are common expenses taken on Schedule C except:
Choose one answer.
| a. Advertising | ||
| b. Office expenses | ||
| c. Repairs and Maintenance | ||
| d. Legal services | ||
| e. Entertainment |
Homework Answers
Answer is option E
e. Entertainment
All business expenses deductions are included on Schedule C. According the New Tax Laws, entertainment expenses are not deductible from 2018.
Add Answer to:
The following are common expenses taken on Schedule C
except:
Choose one answer.
a. Advertising
b....
63 If your employer pays or reimburses your adoption expenses under an adoption assistance program, you...
63 If your employer pays or reimburses your adoption expenses under an adoption assistance program, you may be able to exclude the assistance from your gross income up to the amount of Marks: 1 Choose one answer $10.240 C. $13,810 Employer adoption assistance is required to be included in gross income The following are common expenses taken on Schedule C except: 64 Marks: 1 Choose one answer a Advertising b Office expense c Repairs and Maintenance d Legal services Entertainment
Which of the following cannot be included in medical expenses deducted on Schedule A? Choose one...
Which of the following cannot be included in medical expenses deducted on Schedule A? Choose one answer. a. Eye doctor appointments and glasses b. Seeing-eye dog for a blind person c. Wages paid for nursing services d. Surgery for purely cosmetic reasons Which of the following is not an eligibility requirement for claiming the earned income credit with a qualifying child? Choose one answer. a. You must have earned income. b. You must claim your qualifying child as a dependent....
All of the following are measures of central tendency except [Choose the ONE best answer.): A...
All of the following are measures of central tendency except [Choose the ONE best answer.): A Mode B. Mean C. Median D. Range
prepare a schedule C with the following information Description Cash Accrual Example $78,000 $ 78,000 11.000...
prepare a schedule C with the following information
Description Cash Accrual Example $78,000 $ 78,000 11.000 300 7.200 9-18 14,000 $99,200 $12.800 14.000 $103,300 $ 12.800 9-18 5,335 306 1.200 5,335 306 1.200 9.9 9-14 7,200 200 4.800 200 9-21 9-22 1.435 270 1.435 270 Income Service revenue: Landscaping revenue December landscape service Prepaid landscape services Sales of inventory: Tree sales Gross Profit Nonincidental materials and supplies Car and truck expense: SUV operating expense BMW operating expense Insurance Rent: Shop...
I need help filling out a schedule c and schedule se Forms Neeled Schedule C Schedule SE 28 Frederick (Freddy) Freew...
I need help filling out a schedule c and schedule
se
Forms Neeled Schedule C Schedule SE 28 Frederick (Freddy) Freeweights (age 42) owns and operates a health club called "Treadmills West." The business is located at 4321 Arnold Street, Alpine, CA 91901. Freddy had the following income and expenses from the health club: Income $214,900 Expenses: Business insurance 3,800 Office supplies 3,335 Payroll 97,200 Payroll taxes 9,180 Travel 2,420 Equipment & club maintenance 10,666 Cleaning service 8,500 Equipment rent...
O b. Certain Gambling winning C.HSA contributions d Child care expenses c Which of the following...
O b. Certain Gambling winning C.HSA contributions d Child care expenses c Which of the following is not included in state and local income tax deduction on the 2018 Schedule A? Choose one answer a. State penalties and interest on income taxes pald late in 2018 b Slate tax withheld in 2018 C2018 state estimated payments d Balances due from 2017 and older original state retums or state amends, paid in 2018 Choose one answer a Cancellation of Debt Fob...
Choose the correct answer. a. Expenses required for education to maintain skills for the taxpayer's current...
Choose the correct answer. a. Expenses required for education to maintain skills for the taxpayer's current business are not deductible. b. Education expenses are deductible on Schedule C even if the education qualifies the taxpayer for a new trade c. The cost of a CPA review course is deductible by a bookkeeper on his Schedule C. d. Expenses for travel as a form of education are not deductible.
The following income must be reported on Schedule 1, Line 21 Choose one answer. a. Gambling...
The following income must be reported on Schedule 1, Line 21 Choose one answer. a. Gambling winnings, jury duty pay, 1099-Misc, state refund b. Alaska Permanent Funds dividends, Self-employment, nonbusiness debt cancellation c. Allocated tips, Alaska Permanent Funds dividends, jury duty pay d. Nonbusiness debt cancellation, jury duty pay, gambling winnings
a) $49,913 b) $45,030 c) $11,960 d) $51,260 The following account balances are taken from the...
a) $49,913
b) $45,030
c) $11,960
d) $51,260
The following account balances are taken from the December 31, 2019, financial statements of Tiernan Advertising Co. The company uses accrual basis accounting Advertising Revenue Cash Accounts Receivable Interest Expense Accounts Payable Operating Expenses Deferred Revenue Equipment Income Tax Expense $ 50,596 45,630 7,697 2,378 5,170 40,983 1,280 19,732 2,530 The following activities occurred in 2020 1. Performed advertising services on account. $59,850 2. Received cash payments on account, $11.400 3. Received...
Each of the following is an advantage of using an in-house advertising department except: A. produce...
Each of the following is an advantage of using an in-house advertising department except: A. produce ads faster. B. a better understanding of consumers and consumer trends. C. greater consistency in ads because of lower turnover. D. a better understanding of the product and mission of the company. If a company received negative press, the marketing department may hire a: A. direct marketing agency. B. boutique specialty agency. C. media service company. D. public relations firm. Lifestyle marketing: A. emphasizes...
63 If your employer pays or reimburses your adoption expenses under an adoption assistance program, you may be able to exclude the assistance from your gross income up to the amount of Marks: 1 Choose one answer $10.240 C. $13,810 Employer adoption assistance is required to be included in gross income The following are common expenses taken on Schedule C except: 64 Marks: 1 Choose one answer a Advertising b Office expense c Repairs and Maintenance d Legal services Entertainment
All of the following are measures of central tendency except [Choose the ONE best answer.): A Mode B. Mean C. Median D. Range
prepare a schedule C with the following information
Description Cash Accrual Example $78,000 $ 78,000 11.000 300 7.200 9-18 14,000 $99,200 $12.800 14.000 $103,300 $ 12.800 9-18 5,335 306 1.200 5,335 306 1.200 9.9 9-14 7,200 200 4.800 200 9-21 9-22 1.435 270 1.435 270 Income Service revenue: Landscaping revenue December landscape service Prepaid landscape services Sales of inventory: Tree sales Gross Profit Nonincidental materials and supplies Car and truck expense: SUV operating expense BMW operating expense Insurance Rent: Shop...
I need help filling out a schedule c and schedule
se
Forms Neeled Schedule C Schedule SE 28 Frederick (Freddy) Freeweights (age 42) owns and operates a health club called "Treadmills West." The business is located at 4321 Arnold Street, Alpine, CA 91901. Freddy had the following income and expenses from the health club: Income $214,900 Expenses: Business insurance 3,800 Office supplies 3,335 Payroll 97,200 Payroll taxes 9,180 Travel 2,420 Equipment & club maintenance 10,666 Cleaning service 8,500 Equipment rent...
O b. Certain Gambling winning C.HSA contributions d Child care expenses c Which of the following is not included in state and local income tax deduction on the 2018 Schedule A? Choose one answer a. State penalties and interest on income taxes pald late in 2018 b Slate tax withheld in 2018 C2018 state estimated payments d Balances due from 2017 and older original state retums or state amends, paid in 2018 Choose one answer a Cancellation of Debt Fob...
Choose the correct answer. a. Expenses required for education to maintain skills for the taxpayer's current business are not deductible. b. Education expenses are deductible on Schedule C even if the education qualifies the taxpayer for a new trade c. The cost of a CPA review course is deductible by a bookkeeper on his Schedule C. d. Expenses for travel as a form of education are not deductible.
a) $49,913
b) $45,030
c) $11,960
d) $51,260
The following account balances are taken from the December 31, 2019, financial statements of Tiernan Advertising Co. The company uses accrual basis accounting Advertising Revenue Cash Accounts Receivable Interest Expense Accounts Payable Operating Expenses Deferred Revenue Equipment Income Tax Expense $ 50,596 45,630 7,697 2,378 5,170 40,983 1,280 19,732 2,530 The following activities occurred in 2020 1. Performed advertising services on account. $59,850 2. Received cash payments on account, $11.400 3. Received...
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