Kim owns and manages Cup Cake & Coffee. During 2021 Kim leased an automobile which she drove

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Kim owns and manages” Cup Cake & Coffee”. During 2021 Kim leased an automobile which she drove for 13,000 km , 10,000 km of which were related to business purposes, and incurred the following auto related expenses

Lease payments $10,000
General Operating expenses $1,300
Insurance $1,400

Required

What are the tax implications for Kim assuming

Kim is a sole proprietor
Cup Cake & Coffee is incorporated

Posted Date: Nov 15, 2021 02:52 PM

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Kim owns and manages Cup Cake & Coffee. During 2021 Kim leased an automobile which she drove

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