Solution-Calculate Cindy deduction for home office expenses

Calculate Cindy deduction for home office expenses

Assignment Help Accounting Basics

Reference no: EM132674609

Problem - Cindy operates a computerized engineering drawing business from her home. Cindy maintains a home office and properly allocates the following expenses to her office:

Depreciation $1,500

Utilities 500

Real estate taxes 325

Mortgage interest (100 percent deductible) 500

Required -

a. Assume that Cindy earns income of $4,400 from her business for the year before deducting home office expenses. She has no other expenses associated with the business. Calculate Cindy's deduction for home office expenses.

b. Assume that Cindy earns income of $2,600 from her business during the year before deducting home office expenses. Calculate Cindy's deduction for home office expenses.

Reference no: EM132674609

Questions Cloud

How will impact the ocean food web : How will it impact the ocean's food web? Should you be concerned, or is it not in your backyard? What could be done to remediate (fix) the problem?

Haines research topics located within blackboard : Select a topic from the list of Haines Research Topics located within Blackboard and submit your topic for approval while in module one.

Advertising objectives to marketing strategy planning : Identify the strategy decisions a marketing manager must make in the advertising arena and Discuss the relation of advertising objectives to marketing strategy

Conduct a one-sided test of the equality of means : Was the recent increase in my weekly walking activity from the first four months to the recent 15 weeks statistically significant?

Calculate Cindy deduction for home office expenses : Assume that Cindy earns income of $4,400 from her business for year before deducting home office expenses. Calculate Cindy deduction for home office expenses

Equal protection clause of fourteenth amendment : The Supreme Court ruled that racial segregation in public schools violated the Equal Protection Clause of the Fourteenth Amendment

Find out the payback for project : The required rate of return is 11% for projects at this company. What is the Payback for this project? (Answer to the nearest tenth of a year, e.g. 1.2)

Discuss the relationship between disaster and stress : Discuss the relationship between disaster and stress including the difference between individual and collective stress, and why is it important?

How the emphasison disaster has changed over time : How the emphasison disaster has changed over time. What factors have influenced the shifts in approach and focus? Discuss how paradigms continue to evolve.

User Account

All Pages

Calculate Cindy deduction for home office expenses

Reference no: EM132674609

Reference no: EM132674609

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT