Please complete the required 2020 Schedule C for Carlos and Maria Gomez.

Carlos is a civil engineer and started his own engineering firm called Gomez Professional Engineers

(GPE) . GPE is conducted as a sole proprietorship with Carlos being the sole owner. GPE started business on January 1,2020 and is located at 1515 West Industrial Road Lubbock, Texas 79401 (EIN 20-1616167) . Maria is self-employed as a part-time bookkeeper .

Carlos reported the following information for GPE's business activities (GPE uses the cash method of accounting):

Revenues :

Credit card receipts

$352,000

Cash receipts

648,000

Total revenue

$1,000,000

Expenses:

Advertising

$5,450

Insurance-professional

15,750

Office building rent

62,000

Equipment leases

6,050

Travel

14,200

Meals and entertainment

2,980

Wages

498,725

Taxes and licenses

44,875

Employee health insurance

42,000

Employee benefit programs

14,500

Utilities

37,425

Office supplies

18,900

Legal and professional fees

15,550

Repairs and maintenance

10,000

Total Expenses

$ 788,400

GPE purchased and placed in service the following fixed assets in 2020 :

Item

Date Purchased

March 1

Amount

Laptop computers

$20,500

Printers

June 1

$6,500

Office furniture

October 10

$19,000

GPE does not want to claim any Section 179 expensing on any of these assets, but would like to take bonus depreciation, if available, on all the assets.

Maria received the following Form 1099-MISC from her bookkeeping activities for her largest client:

Form 1099-MISC

1. unemployment compensation $14000

Maria received an additional $4,000 from clients who were not required to issue Maria a Form 1099- MISC.

During the year, Maria paid the following business-related expenses :

Paper

$365

Toner

$450

Meals

$580

Maria purchased and placed in service the following fixed assets for her business in 2020 :

Item

Date Purchased

Amount

New laptop computers

March 1

$1,850

New laser printers

March 1

$840

New computer software

April 2

$400

Maria would like to recover the cost of these business assets as soon as possible through Section 179 expensing.

Maria owns a 2017 Acura . She started to use the Acura for her business on January 1, 2020. She drove 2,050 business miles during 2020 (she has documentation to verify) . She drove the vehicle for a total of 10,000 miles during the year (7,950 personal miles). She also has access to another vehicle that she can use for personal purposes.

Maria started her bookkeeping service in 2017 and she uses the cash method of accounting. She is the only person performing services in the business. She did not make any payments that would have required her to file a Form 1099.

Maria's business is a specified service business for purposes of the Qualified Business Income Deduction.

I prepared Schedule C for Carlos and Maria , but I am not sure I did right or wrong.

how to calculate bonus depreciation, and section 179.

I find out Carlos total expense is $832915 (include depreciation $46000)

Maria total expense is $5374 ( include depreciation $3090 and Auto expense $1179)

Could you help me check Schedule C?

Thank you