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Shelly also started her own home design consulting business in March 2020. The results of her business operations (Cash basis) for 2020 follows: Gross receipts
Shelly also started her own home design consulting business in March 2020. The results of her business operations (Cash basis) for 2020 follows:
Gross receipts from clients | $ 154,000 | |
---|---|---|
Vehicle mileage | 21,000 business miles (2,100 per month) | |
32,000 total miles during the year | ||
2012 Chevy Suburban | ||
Placed in service 03/01/20 | ||
Postage | (750) | |
Office supplies | (1,500) | |
State license fees | (155) | |
Supplies | (5,300) | |
Professional fees | (2,500) | |
Design software | (1,000) | |
Professional education programs (registration) | (550) | |
Travel to education program | ||
Airplane | (350) | |
Lodging $119/night 3 nights | ||
Meals per diem for a day | 55 |
Business Assets | Date Purchased | Cost |
---|---|---|
Laptop | 6/08/20 | $ 2,500 |
Computer | 3/05/20 | 5,700 |
Printer | 3/01/20 | 1,800 |
Copier | 6/02/20 | 1,700 |
Furniture | 4/01/20 | 5,000 |
Building | 3/01/20 | 175,000 |
Phone | (600) | |
Internet service | (450) | |
Rent | (8,300) | |
Insurance | (1,700) |
Shelly made a $29,000 estimated tax payment on June 15, 2020.
What is her 179 expense deduction? please help
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