Question
23.) Jayda maintains an office in her home that comprises 8% (200 square feet) of total floor space. Gross income for her business is $42,000,
23.) Jayda maintains an office in her home that comprises 8% (200 square feet) of total floor space. Gross income for her business is $42,000, and her residence expenses are as follows:
REAL PROPERTY TAXES: $2,400.00
INTEREST ON MORTGAGE: $4,000.00
OPERATING EXPENSES: $2,200.00
DEPRECIATION (BASED ON 8% BUSINESS USE): $450.00
What is Jaydas office in the home deduction based on:
a. The Regular Method?
b. The Simplified Method?
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Fundamentals of Advanced Accounting
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
5th edition
978-0077924379, 77924371, 978-0078025396, 78025397, 978-0077425654, 77425650, 978-0077667061
