For Tax Year 2015,Taylor Used the Simplified Method of Determining

question 90

True/False

For tax year 2015,Taylor used the simplified method of determining her office in the home deduction.For 2016,Taylor must continue to use the simplified method and cannot switch to the regular (actual expense)method.

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Definitions:

Money Expansion

refers to an increase in the money supply, which can result from actions by the central bank or financial institutions that impact lending and liquidity.

Excess Reserves

The capital reserves held by a bank or financial institution in excess of what is required by regulators, creditors or internal controls.

Private Individuals

Persons or entities that are not part of the government or public sector, typically referring to ordinary citizens or privately owned entities.

Money Supply

The aggregate quantity of monetary assets within an economy at a determined point in time.