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Compute Reed's realized and recognized gain or loss on the sale as well as ABC's basis in the land.
How much of the $480 must he include in gross income in 2014-2017?
Compute the amount of insurance premium that can be deducted on Schedule C in 2012-2015, assuming the taxpayer uses the cash method of accounting.
How much and where on Schedule C should Amanda deduct the reimbursements?
Aimee is a self-employed CPA. She holds both a bachelor's and a master's degree in accounting.
Dabny operates his business as a sole proprietorship. During the year, he sends holiday gifts to 20 of his clients.
Discuss the tax consequences of the loan to Mickey, including the amount and year in which he can take a bad debt deduction.
What is the total amount of expenses that Rita can deduct for using her own home to provide the childcare services if she uses these rooms 2,000 hours in 2014 f
Net business profit, $39,000; dividend income, $300; wages subject to social security, $5,000; gross rental income, $6,000; net rental income, $1,500.
Connor has Schedule C net profit of $10,000. Compute Connor's 2014 self-employment tax if his salary as a CPA was $136,200.
What is the maximum Liz can contribute to a SEP plan that would be fully deducted from gross income on her 2014 income tax return?
By what date must the Keogh be established in order for Diana to take a deduction for the contributions on her 2014 tax return?
Normally a 10% penalty is assessed when employees and self-employed taxpayers take distributions from a retirement plan before reaching age 59½.
The return in front of Helen was completed on behalf of her newest client, Billy Joe Carter, who owns Honest Bill's Used Car Lot.
Rob files as single with no dependents. He is 47 years old and made $8,000 of estimated federal income tax payments for the 2014 tax year.
Neither Section 179 nor bonus depreciation is allowed on listed property ?
The business-use portion of listed property must be depreciated under the Alternative Depreciation System (ADS) ?
Compute the maximum Section 179 Sand can elect in 2014 and the Section 179 carryover to 2015.
Compute Riddick's total depreciation expense deduction assuming Riddick uses regular MACRS and elects to take the maximum Section 179 expense on the 7-year .
Compute Terrell's maximum depreciation expense deduction in 2014 for the computer assuming he does not elect Section 179 in 2014.
During 2014, Simon pays $14,500 for a new automobile that he uses 45% of the time for business, 25% of the time for investment purposes.
Compute Bart's lease deduction and inclusion amounts for 2014-2016.
Drew uses MACRS to depreciate the warehouse and elects to use ADS to depreciate the apartment building.
What affect does this lease arrangement have on the amount Renee can deduct in 2014?
The same standard mileage rate is used for medical and for charitable contribution ?