Question
Hello, I have a question regarding this problem: Joyce's office is located in a separate room of the house and occupies 250 square feet. The
Hello, I have a question regarding this problem:
Joyce's office is located in a separate room of the house and occupies 250 square feet. The total square footage of the house is 2,500. The taxpayers purchased the home in 1999, for $70,000, with approximately 20 percent of the purchase price allocated to the land. The total household expenses for the year are as follows:
Heat $2,340
Insurance $1,680
Electricity $760
Repairs to kitchen $2,750
Cleaning $1,740
How do you work out the tax on the property, like the tax on the house. I believe it is $9,400 but how do you get that answer?
How do you also work out home mortgage interest?
Thank you!
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