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:

Wellness Strategies

Approaches or methods aimed at maintaining or improving mental, physical, and emotional health.

Legal Consultation

A professional service provided by lawyers to offer advice, interpretations, and recommendations on legal matters.

Continuing Education

The process of learning new skills or acquiring knowledge beyond the basic education, often for personal development or professional certification.

Peer Consultation

A process where professionals, typically in similar fields, exchange insights or feedback on cases, practices, or theories, to enhance understanding or outcomes.