Homework Answers
He has used 350 square foot as home office, however, the square foot is capped at 300.
The deduction per square foot is $5 i.e. = 300 * 5 = 1500
Deduction for 3 months ( Jan 1- Mar 31) = 1500 * 3/12 = $375
Option $ 375.
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USLUNI UI 15. Blake operated as a sole proprietor, reported on Schedule C (Form 1040). He...
Question 70 of 75. Blake operated as a sole proprietor, reported on Schedule C (Form 1040)....
Question 70 of 75. Blake operated as a sole proprietor, reported on Schedule C (Form 1040). He used 350 square feet of his 2,100-square- foot rented loft exclusively and regularly for business. Blake used the cash accounting method and had the following income and expenses for his financial planning business: • Gross receipts: $36,960 • Expenses: • Advertising: $80 • Business insurance: $685 • Business license: $100 • Comprehensive health insurance (entire year): $7,788 • Office supplies: $76 - Postage:...
Question 73 of 75. Blake operated as a sole proprietor, reported on Schedule C (Form 1040)....
Question 73 of 75. Blake operated as a sole proprietor, reported on Schedule C (Form 1040). He used 350 square feet of his 2,100-square- foot rented loft exclusively and regularly for business. Blake used the cash accounting method and had the following income and expenses for his financial planning business: • Gross receipts: $36,960 • Expenses: • Advertising: $80 • Business insurance: $685 • Business license: $100 • Comprehensive health insurance (entire year): $7,788 • Office supplies: $76 • Postage:...
Question 74 of 75 Blake operated as a sole proprietor, reported on Schedule C (Form 1040)....
Question 74 of 75 Blake operated as a sole proprietor, reported on Schedule C (Form 1040). He used 350 square feet of his 2.100-square toot rented loft exclusively and regularly for business. Blake used the cash accounting method and had tihe following income and e for his financial planning business Gross receipts: $36,960 Expenses: e Advertising: $80 e Business insurance: $685 e Business license: $100 Comprehensive health insurance (entire year): $7,788 e Office supplies: $76 o Postage: $38 o Rent...
Question 73 of 75. take operated as a sole proprietor, reported on Schedule C (Form 1040)....
Question 73 of 75. take operated as a sole proprietor, reported on Schedule C (Form 1040). He used 350 square feet of his 2.100-square-foot rented loft exclusively and business. Drake used the cash accounting method and had the following income and expenses for his financial planning business- • Gross receipts: $36,960 • Expenses: Advertising: $80 Business insurance: $685 - Business license: $100 Comprehensive health insurance (entire year): $7,788 - Office supplies: $76 Postage: $38 Rent (entire year): $14,400 Renter's insurance...
Blake operated as a sole proprietor, reported on Schedule C form 1040. He used 350 square...
Blake operated as a sole proprietor, reported on Schedule C form 1040. He used 350 square feet of his 2,100 sq ft rented Loft exclusively and regularly for business. Blake used the cash accounting method and had the following income and expenses for his Financial Planning business: gross receipts $36,960 expenses advertising $80 business insurance $685 business license $100 comprehensive life insurance entire year $7,788 office supplies $76 postage $38 rent entire year $14,400 renters insurance entire year $1,055 second...
e Question 75 of 75 d as a sole proprietor, reported on Schedule C (Form 1040)....
e Question 75 of 75 d as a sole proprietor, reported on Schedule C (Form 1040). He used 350 square fest of nis 2.100-uars foon rented loft exclusively and regularly for business Blabe used the cash-ce unting method·nd had hewo and ngwa Gross receipts: $36,96o Expenses Advertising: $80 . Business insurance: $685 Business license: $100 Cmpreensive heaith insurance (entire year);: $7,788 Office supplies: $76 e Postage: $38 e Rent (entire year): $14,400 . Renter's insurance (entire year): $1,055 e Second...
Blake operated as a sole proprietor, reported on Schedule C (Form '10,10). He used 350 square...
Blake operated as a sole proprietor, reported on Schedule C (Form '10,10). He used 350 square feet of his 2100 square-foot rented loft exclusively and regularly for business, Blake used the cash accounting method and had the following income and expenses for his financial planning business: . Gross receipt: $36,960 'Expenses: Advertising: $80 . Business insurance: 9685 . Business license: $100 . Comprehensive health insurance (entire year): $7,786 . Office supplies: $76 . Postage: $38 Rent {entire year): $'14,400 ....
sole propiertor reported on sch c . home as office 350 dquate feet of his 3100...
sole propiertor reported on sch c . home as office 350 dquate feet of his 3100 rent loft. cash basis gross receipts 36960 advertising 80 bus. ins 685 bus lic 100 office supplies 76 postage 38 rent for year 14400 renter ins for year 1055 second phone 103 tax fees 350 utilities year 2281. he closed business April 1, 2018. what is his profit or loss on sch c
Complete Form 1040, Schedule 1, Schedule C, Schedule D, Form 8949 Instructions Comprehensive Problem 3-1 Ken...
Complete Form 1040, Schedule 1, Schedule C, Schedule D,
Form 8949
Instructions Comprehensive Problem 3-1 Ken (birthdate July 1, 1988) and Amy (birthdate July 4, 1990) Booth have brought you the following information regarding their income, expenses, and withholding for the year. They are unsure which of these items must be used to calculate taxable income. Income: Ken's salary (salesman) $28,500 Amy's wages (part-time nurse) 17,500 Insurance reimbursement for repairs from an auto accident 500 Gift from Uncle George 2,000...
1) The image shows a completed schedule C using the cash method. Complete schedule C using...
1) The image shows a completed schedule C using the cash method.
Complete schedule C using the ACCRUAL method.
2) Are there any differences between the 2018 and 2019
forms?
SCHEDULE C (Form 1040) Profit or Loss From Business (Sole Proprietorship) •Go to www.irs.gov/Schedulec for instructions and the latest information. OMB No. 1545-0074 2018 Department of the Treasury Internal Revenue Service (99) Name of proprietor RICK GRIME Attachment Attach to Form 1040, 1040NR, or 1041; partnerships generally must file Form...
Question 70 of 75. Blake operated as a sole proprietor, reported on Schedule C (Form 1040). He used 350 square feet of his 2,100-square- foot rented loft exclusively and regularly for business. Blake used the cash accounting method and had the following income and expenses for his financial planning business: • Gross receipts: $36,960 • Expenses: • Advertising: $80 • Business insurance: $685 • Business license: $100 • Comprehensive health insurance (entire year): $7,788 • Office supplies: $76 - Postage:...
Question 73 of 75. Blake operated as a sole proprietor, reported on Schedule C (Form 1040). He used 350 square feet of his 2,100-square- foot rented loft exclusively and regularly for business. Blake used the cash accounting method and had the following income and expenses for his financial planning business: • Gross receipts: $36,960 • Expenses: • Advertising: $80 • Business insurance: $685 • Business license: $100 • Comprehensive health insurance (entire year): $7,788 • Office supplies: $76 • Postage:...
Question 74 of 75 Blake operated as a sole proprietor, reported on Schedule C (Form 1040). He used 350 square feet of his 2.100-square toot rented loft exclusively and regularly for business. Blake used the cash accounting method and had tihe following income and e for his financial planning business Gross receipts: $36,960 Expenses: e Advertising: $80 e Business insurance: $685 e Business license: $100 Comprehensive health insurance (entire year): $7,788 e Office supplies: $76 o Postage: $38 o Rent...
Question 73 of 75. take operated as a sole proprietor, reported on Schedule C (Form 1040). He used 350 square feet of his 2.100-square-foot rented loft exclusively and business. Drake used the cash accounting method and had the following income and expenses for his financial planning business- • Gross receipts: $36,960 • Expenses: Advertising: $80 Business insurance: $685 - Business license: $100 Comprehensive health insurance (entire year): $7,788 - Office supplies: $76 Postage: $38 Rent (entire year): $14,400 Renter's insurance...
e Question 75 of 75 d as a sole proprietor, reported on Schedule C (Form 1040). He used 350 square fest of nis 2.100-uars foon rented loft exclusively and regularly for business Blabe used the cash-ce unting method·nd had hewo and ngwa Gross receipts: $36,96o Expenses Advertising: $80 . Business insurance: $685 Business license: $100 Cmpreensive heaith insurance (entire year);: $7,788 Office supplies: $76 e Postage: $38 e Rent (entire year): $14,400 . Renter's insurance (entire year): $1,055 e Second...
Complete Form 1040, Schedule 1, Schedule C, Schedule D,
Form 8949
Instructions Comprehensive Problem 3-1 Ken (birthdate July 1, 1988) and Amy (birthdate July 4, 1990) Booth have brought you the following information regarding their income, expenses, and withholding for the year. They are unsure which of these items must be used to calculate taxable income. Income: Ken's salary (salesman) $28,500 Amy's wages (part-time nurse) 17,500 Insurance reimbursement for repairs from an auto accident 500 Gift from Uncle George 2,000...
1) The image shows a completed schedule C using the cash method.
Complete schedule C using the ACCRUAL method.
2) Are there any differences between the 2018 and 2019
forms?
SCHEDULE C (Form 1040) Profit or Loss From Business (Sole Proprietorship) •Go to www.irs.gov/Schedulec for instructions and the latest information. OMB No. 1545-0074 2018 Department of the Treasury Internal Revenue Service (99) Name of proprietor RICK GRIME Attachment Attach to Form 1040, 1040NR, or 1041; partnerships generally must file Form...
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