Frank Is a Self-Employed Architect Who Maintains a Qualifying Office

question 30

Multiple Choice

Frank is a self-employed architect who maintains a qualifying office in his home. Frank has $80,000 gross income from his practice and incurs $72,000 in salaries, supplies, computer services, etc. Frank's mortgage interest and real estate taxes allocable to the office total $3,000. Other expenses total $9,000 and consist of depreciation, utilities, insurance, and maintenance. Frank's total office in home deductions are

• A)$3,000
• B)$5,000
• C)$8,000
• D)$9,000
• E)$12,000

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Definitions:

Community Resources

Various supports, services, and facilities available within a community that can be utilized to improve the quality of life for its members, including libraries, parks, educational programs, and health clinics.

School Policies

Regulations and principles set by academic institutions to control actions and processes within the educational setting.

Geographic Area

A specific physical region or location defined by natural or artificial boundaries.

Food Bank

A non-profit organization that collects, stores, and distributes food to those in need, working to combat hunger and food insecurity in communities.