Mercury Is Self-Employed and She Uses a Room in Her

question 41

Essay

Mercury is self-employed and she uses a room in her home as her principal place of business.She meets clients there and doesn't use the room for any other purpose.The size of her home office is 400 square feet.The size of her entire home is 2,400 square feet.During the year,Mercury received $6,300 of gross income from her business activities and she reported $2,500 of business expenses unrelated to her home office.For her entire home in the current year,she reported $3,500 of mortgage interest,$1,000 of property taxes,$600 of insurance,$500 of utilities and other operating expenses,and $3,200 of depreciation expense.What amount of home office expenses is Mercury allowed to deduct in 2018? Indicate that amount and type of expenses she must carry over to the next year,if any.

Understand the implications of sending children to school in different global contexts and the outcomes thereof.

Understand the basic concepts of phonological awareness, including phonemes and decoding.

Recognize the importance of formal education in promoting success across different societal contexts.

Appreciate the role of language structure and mathematics in cognitive development.

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Definitions:

Sales Tax

Sales tax is a tax imposed by governments on sales of goods and services, collected by the retailer at the point of sale.

Installation

Installation involves setting up or putting into place a piece of equipment or system, often requiring technical skills and specific procedures.

Equipment Account

An account in financial statements that represents the cost of equipment purchased by a business, excluding any accumulated depreciation.

Land Improvements

An asset account that records improvements made to land; such improvements have a limited life and are subject to depreciation (examples are a driveway or fences).