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:

Western Practice

Refers to medical and healthcare practices that are based on scientific knowledge and research, typically employed in countries in the Western Hemisphere.

Preventive Practices

Measures taken to reduce the risk of diseases and disabilities before they occur, often by addressing potential risk factors.

Mental and Physical Well-being

Refers to the comprehensive health status encompassing emotional, psychological, and physical health.

Yoga

A physical, mental, and spiritual practice originating in ancient India, involving postures, breathing exercises, and meditation, aimed at achieving physical health and spiritual well-being.