Marcella is a sole prop and wishes to use the actual method for business use of...
Homework Answers
Mortgage interest for business = $ 4392 * (400 sq ft / 2000 sq ft.) = $ 878.40
Real estate taxes for business = $ 1278 * (4200 sq ft / 2000 sq ft.) = $ 255.60
So total allowable deduction = $ 878.40 + $ 255.60 = $ 1134
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Marcella is a sole prop and wishes to use the actual method for business use of...
Judy is a sole proprietor and wishes to use the simplified method for business use of...
Judy is a sole proprietor and wishes to use the simplified method for business use of home expenses. Her mortgage interest for 20178 is $3500 and real estate taxes are $975. Her home office is 400 square feet, and her total home square footage is 1800 square feet. What is the home office expense deductions?
Question 32 of 75. Judy is a sole proprietor and wishes to use the simplified method...
Question 32 of 75. Judy is a sole proprietor and wishes to use the simplified method for business-use-of-home expenses. Her mortgage interest for 2018 is $3,500, and real estate taxes are $975. Her home office is 400 square feet, and her total home square footage is 1,800 square feet. What is her home office expense deduction? $4,475 $2,000 $1,500 $994 Question 33 of 75. Short-year depreciation does not affect which of the following conventions? O Half-year. Mid-month. Mid-quarter. O Mid-year.
de Test - Intermediate Sole Proprietorships (2019) Section 5 - Business Use of Home Question 24...
de Test - Intermediate Sole Proprietorships (2019) Section 5 - Business Use of Home Question 24 of 45. Simone is a sole proprietor and wishes to use the actual method for business use of home expenses. Her mortgage interest for 2018 is $4,600, and real estate taxes are $965. Depreciation on the property is $2,500. Her home office is 500 square feet, and her total home square footage is 1,900 square feet. What is Simono's home office expense deduction? office...
O stop taking any depreciation on the machine. Change from the general MACRS to a straight-line...
O stop taking any depreciation on the machine. Change from the general MACRS to a straight-line system. Recapture a prorated portion of that which was expensed. O Change nothing. □Mark for follow up Question 34 of 75 Marcela is a sole proprietor and wishes to use the actual method for business-use-of-home expenses. Her mortgage interest for 2017 is $4,392, and real estate taxes are $1,278. Her home office is 400 square feet, and her total home square footage is 2,000...
The following information applies to the questions displayed below. Rita owns a sole proprietorship in which...
The following information applies to the questions displayed below. Rita owns a sole proprietorship in which she works as a management consultant. She maintains an office in her home (500 square feet) where she meets with clients, prepares bills, and performs other work-related tasks. Her business expenses, other than home office expenses, total $5,800. The following home-related expenses have been allocated to her home office under the actual expense method for calculating home office expenses. Real property taxes Interest on...
Rita owns a sole proprietorship in which she works as a management consultant. She maintains an...
Rita owns a sole proprietorship in which she works as a management consultant. She maintains an office in her home (500 square feet) where she meets with clients, prepares bills, and performs other work-related tasks. Her business expenses, other than home office expenses, total $5,680. The following home-related expenses have been allocated to her home office under the actual expense method for calculating home office expenses. Real property taxes $ 1,640 Interest on home mortgage 5,160 Operating expenses of home...
Required information [The following information applies to the questions displayed below.] Rita owns a sole proprietorship...
Required information [The following information applies to the questions displayed below.] Rita owns a sole proprietorship in which she works as a management consultant. She maintains an office in her home (500 square feet) where she meets with clients, prepares bills, and performs other work-related tasks. Her business expenses, other than home office expenses, total $5,840. The following home-related expenses have been allocated to her home office under the actual expense method for calculating home office expenses. Real property taxes...
[The following information applies to the questions displayed below.] Rita owns a sole proprietorship in which...
[The following information applies to the questions displayed below.] Rita owns a sole proprietorship in which she works as a management consultant. She maintains an office in her home (500 square feet) where she meets with clients, prepares bills, and performs other work-related tasks. Her business expenses, other than home office expenses, total $5,800. The following home-related expenses have been allocated to her home office under the actual expense method for calculating home office expenses. Real property taxes Interest on...
Required information The following information applies to the questions displayed below.) Rita owns a sole proprietorship...
Required information The following information applies to the questions displayed below.) Rita owns a sole proprietorship in which she works as a management consultant. She maintains an office in her home (500 square feet) where she meets with clients, prepares bills, and performs other work-related tasks. Her business expenses, other than home office expenses, total $5,600. The following home-related expenses have been allocated to her home office under the actual expense method for calculating home office expenses. Real property taxes...
Rita owns a sole proprietorship in which she works as a management consultant. She maintains an...
Rita owns a sole proprietorship in which she works as a management consultant. She maintains an office in her home (500 square feet) where she meets with clients, prepares bills, and performs other work-related tasks. Her business expenses, other than home office expenses, total $6,000. The following home-related expenses have been allocated to her home office under the actual expense method for calculating home office expenses. Real property taxes Interest on home mortgage Operating expenses of home Depreciation $1,800 5,400...
Question 32 of 75. Judy is a sole proprietor and wishes to use the simplified method for business-use-of-home expenses. Her mortgage interest for 2018 is $3,500, and real estate taxes are $975. Her home office is 400 square feet, and her total home square footage is 1,800 square feet. What is her home office expense deduction? $4,475 $2,000 $1,500 $994 Question 33 of 75. Short-year depreciation does not affect which of the following conventions? O Half-year. Mid-month. Mid-quarter. O Mid-year.
de Test - Intermediate Sole Proprietorships (2019) Section 5 - Business Use of Home Question 24 of 45. Simone is a sole proprietor and wishes to use the actual method for business use of home expenses. Her mortgage interest for 2018 is $4,600, and real estate taxes are $965. Depreciation on the property is $2,500. Her home office is 500 square feet, and her total home square footage is 1,900 square feet. What is Simono's home office expense deduction? office...
O stop taking any depreciation on the machine. Change from the general MACRS to a straight-line system. Recapture a prorated portion of that which was expensed. O Change nothing. □Mark for follow up Question 34 of 75 Marcela is a sole proprietor and wishes to use the actual method for business-use-of-home expenses. Her mortgage interest for 2017 is $4,392, and real estate taxes are $1,278. Her home office is 400 square feet, and her total home square footage is 2,000...
The following information applies to the questions displayed below. Rita owns a sole proprietorship in which she works as a management consultant. She maintains an office in her home (500 square feet) where she meets with clients, prepares bills, and performs other work-related tasks. Her business expenses, other than home office expenses, total $5,800. The following home-related expenses have been allocated to her home office under the actual expense method for calculating home office expenses. Real property taxes Interest on...
[The following information applies to the questions displayed below.] Rita owns a sole proprietorship in which she works as a management consultant. She maintains an office in her home (500 square feet) where she meets with clients, prepares bills, and performs other work-related tasks. Her business expenses, other than home office expenses, total $5,800. The following home-related expenses have been allocated to her home office under the actual expense method for calculating home office expenses. Real property taxes Interest on...
Required information The following information applies to the questions displayed below.) Rita owns a sole proprietorship in which she works as a management consultant. She maintains an office in her home (500 square feet) where she meets with clients, prepares bills, and performs other work-related tasks. Her business expenses, other than home office expenses, total $5,600. The following home-related expenses have been allocated to her home office under the actual expense method for calculating home office expenses. Real property taxes...
Rita owns a sole proprietorship in which she works as a management consultant. She maintains an office in her home (500 square feet) where she meets with clients, prepares bills, and performs other work-related tasks. Her business expenses, other than home office expenses, total $6,000. The following home-related expenses have been allocated to her home office under the actual expense method for calculating home office expenses. Real property taxes Interest on home mortgage Operating expenses of home Depreciation $1,800 5,400...
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