During the current year, Errol starts a management consulting service which he operates from an office in
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During the current year, Errol starts a management consulting service which he operates from an office in his home. He uses one room of the house as his office. He purchases office furniture for $6,000 and a computer for $3,000. He uses the computer primarily in his consulting business but also uses it to track his personal investments and for other personal purposes. What tax problems might Errol face regarding his office, the furniture, and the computer? Explain.
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Concepts In Federal Taxation
ISBN: 9780324379556
19th Edition
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
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