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INCOME TAX RETURN PROBLEM Below is the taxpayer information for Beverly Prentice: Beverly ( SS# 1 3 8 - 0 9 - 1 9 8

INCOME TAX RETURN PROBLEM
Below is the taxpayer information for Beverly Prentice:
Beverly (SS# 138-09-1983, date of birth: May 31,1990) is a self-employed consultant whose business uses the accrual method of accounting. Her principal business code is 540700. Her business is located at 1501 Broadway, New York, N.Y.,10019. During the year, she had the following income and expense items:
Income
Professional Fees Earned $190,000
Expenses
Office Expenses $ 5,413
Depreciation $ 16,250
Rent on Office Space $ 20,500
Advertising $ 7,577
Malpractice Insurance $ 7,000
Utilities $ 5,950
Travel (4,560 business miles driven during the year)?
Lodgings Hotels for business travel $900
Taxes & Licenses $3,500
Salary for her bookkeeper $13,650
Meals with clients $ 10,050
Meals with 6 friends $9,500
Parking tickets $1,500
Supplies $ 4,600
Accounting Fees $9,950
Donation to Local Congressman Campaign $7,800
Legal Fees $14,250
Interest on Bank Loan $4,550
Cellphone for biz usage $2,500
Suits/Uniform $4,800
REQUIRED:
Please prepare the 2023 Schedule C (see attachment) for Beverly Prentice. Round up amounts to the nearest dollar. Use the 2023 tax rules.
I expect to see totals for lines 7,28,27a,28.29,31 and 48
DO NOT COMPLETE PART III & PART IV OF THE SCHEDULE C

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