Question
PLEASE HELP ME WITH THIS HOMEWORK A.SA.P. Addison Brown, single and age 32. She is employed as regional sales manager by PILLS Corporation, a manufacturer
PLEASE HELP ME WITH THIS HOMEWORK A.SA.P.
Addison Brown, single and age 32. She is employed as regional sales manager by PILLS Corporation, a manufacturer and distributor of vitamins and food supplements. Addison is paid an annual salary of $50,000.
Addison also has a bookkeeping and tax business that she runs out of her home.Her fees income collected for the year was $25,000. Out of 1,500 square feet of living space in her apartment, Addison has set aside 300 square feet as an office. Expenses for 2018 relating to the office are listed below.
Her self-employment-related expensesfor 2018 are summarized below.
The business gifts were boxes of candy costing $30 sent to 18 clients at Christmas. The continuing education was a noncredit course dealing with improving people management skills that Addison took online.
She uses her automobile 10% for business and 90% for personal. The automobile was purchased new on June 30, 2012, for $37,000 (no trade-in was involved).During 2018, Addison drove 15,000 miles (total) and incurred and paid the following expenses relating to the automobile:
Besides the items already mentioned, Addison had the following receipts in 2018:Bank of America interest income of $250 and City of Dallas bond interest of $1,000.
Addison's expenditures for 2018 (not previously noted) are summarized below.
Medical7000
State and local tax4000
Property Taxes7000
Church pledge Paid6000
Credit card interest2000
Tax return preparation fee500
Her employer withheld $9,600 for Federal income tax purposes. What is Addison's Federal income tax return 2018?
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