Charles Is a Self-Employed CPA Who Maintains a Qualifying Office

question 67

Multiple Choice

Charles is a self-employed CPA who maintains a qualifying office in his home.Charles has $110,000 gross income from his practice and incurs $88,000 in salaries,supplies,computer services,etc.Charles's mortgage interest and real estate taxes allocable to the office total $10,000.Other expenses total $14,000 and consist of depreciation,utilities,insurance,and maintenance.What is Charles' total home office expense deduction?

• A)$10,000
• B)$14,000
• C)$22,000
• D)$24,000

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Definitions:

Personality Disorder

A type of mental disorder characterized by enduring maladaptive patterns of behavior, cognition, and inner experience, exhibited across many contexts.

Panic Disorder

A psychiatric disorder characterized by sudden and repeated episodes of intense fear accompanied by physical symptoms.

Anxiety Disorders

A group of mental health disorders characterized by significant feelings of anxiety and fear, impacting daily functioning.

Personality Features

Distinctive characteristics or attributes that make up an individual's personality.