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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The result of multiplying two or more numbers together or items produced for consumer use.

Fractions

Numerical quantities that represent a part of a whole, typically with a numerator and denominator.

Handmade Chocolates

Chocolates crafted by hand rather than produced by machines, often involving artisan techniques.

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A unit of weight commonly used in the United States, equivalent to 16 ounces.