Besides working for the Native America Law Firm, Michael also has his own private consulting practice (Lapin Legal Consultancy, LLC, EIN: 55-5687541, Business code: 541110, Accounting method: Cash Basis), located at 195 Chambers street, New York, NY 10007. The income and expenses associated with his practice are as follows:

Gross Receipts	320,500
Rent	125,000
Office Salaries	75,000
Office Supplies	11,000
Advertisement	9,000
Utilities	8,000
Phone/Internet	3,000
Accounting Fees	12,000
Health Insurance Plan Employees	15,000
Office Maintenance	5,000
Office Equipment (see Note 1)	30,000
Travel (see Note 2)	6,000
Miscellaneous	1,500
Damages (see Note 3)	90,000

Note 1 the category office equipment includes printers, computers, fax machines, percolators, phones, microwave, and office refrigerator. The items were placed in service during 2022. Michael is unfamiliar with the tax treatment and therefore requires your help. He is greatly concern with the tax benefits available for the costs incurred for office equipment. Hint: should he capitalized and depreciate the equipment cost, or is there another available tax treatment?

Note 2 Michael visited Miami on a conference that was specific to his business. He spent a total of three days in Miami. However the conference was only two days, but since Michael loved the beach; he decided to stay another day. The total expenses incurred on the trip were 6,000.

Note 3 Lapin Legal Consultancy, LLC, was sued by the US government, regarding a criminal violation of antitrust laws. He entered a no-contest plea and paid the fine of 90,000 to settle the case.

Unreimbursed Job Related Expenses

Diana attended a Genetics conference in Boston, MA during 2022. Her employers practice is to reimburse their employees for these conferences. Her total expenses incurred were 3,000. However, she was only reimbursed 1,500 as of December 31, 2022.

Michael had no unreimbursed expenses for 2022.

Group Term Life Insurance

Native American Justice, Inc. provides $100,000 of group term life insurance for Michael, who is not a key employee. (Hint: dont forget to consider its effect on gross income).

Retirement Contributions

During 2022, Mr. & Mrs. Lapin each contributed 6,000 to their Traditional IRA accounts. Assume no AGI limitation prevents the deductions.

NYS Tax Refund

Mr. & Mrs. Lapin received a 1099 for $5,000 representing a 2021 NYS Tax Refund which was received in 2022. The Lapin itemized their deductions in 2021.

*Do the Schedule C and Gross income based on The information. , please I need this