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What is his office in home deduction

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Reference no: EM133162045

Question - John maintains an office in home that comprises 9% (400 square feet) of total floor space. Gross income for his business is $58,000 and his expenses are as follows:

Real estate taxes - $4,500

Mortgage interest - $7,900

Operating expenses - $5,200

Depreciation - $1,200

Required - What is his office in home deduction based on the regular and simplified method? Also, in at least a 1 page paper that is in APA format, what is the regular and simplied method? What are some of the differences between each of these methods and when would you know which one to use?

Reference no: EM133162045

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