Question
Subject: Work Space In The Home Costs During the current year, Jobul Krist has the following costs: Utilities Maintenance And Repairs Property Taxes House Insurance
Subject: Work Space In The Home Costs During the current year, Jobul Krist has the following costs: Utilities Maintenance And Repairs Property Taxes House Insurance Interest On Mortgage Repainting And Rewiring The Work Space In The Home Home Internet Service Fees Home Telephone: Monthly Charge Employment/Business Related Long Distance Charges $2,400 4,600 5,200 2,300 7,800 1,000 960 600 390 Mr. Krist is a workaholic with no family, friends, pets, or personal interests. He estimates that he uses 25 percent of his residence and 95 percent of his home phone and home internet service for employment/business related purposes. Maximum CCA on 100 percent of the house would be $12,000. Determine the maximum deduction that would be available to Mr. Krist assuming: A. He is an employee with $250,000 in income (no commissions). B. He is an employee with $250,000 in commission income. C. He is self-employed and earns $250,000 in business income.
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