Question: Addison Brown, single and age 3 2 . She is employed as regional sales manager by PILLS Corporation, a manufacturer and distributor of vitamins and
Addison Brown, single and age She is employed as regional sales manager by PILLS Corporation, a manufacturer and distributor of vitamins and food supplements. Addison is paid an annual salary of $ $ of Federal Income Tax was withheld.
Addison also has a bookkeeping and tax business that she runs out of her home. Her fees income collected for the year was $ Out of square feet of living space in her apartment, Addison has set aside square feet as an office. Expenses for relating to the office are listed below.
Rent $
Utilities $
Insurance $
Carpet $office area only
Her selfemploymentrelated expenses for are summarized below.
Airfare $
Lodging $
Business meals $
Taxi, Uber, etc. $
Business Gifts $
Continuing Education $
Professional journals $
The business gifts were boxes of candy costing $ sent to clients at Christmas. The continuing education was a noncredit course dealing with improving people management skills that Addison took online.
She uses her automobile for business and for personal. During Addison drove a total of miles use standard mileage rate.
Besides the items already mentioned, Addison had the following revenue in : Bank of America interest income of $ and City of Dallas bond interest of $
Addison's expenditures for not previously noted are summarized below.
Medical
State and local tax
Property Taxes
Church pledge Paid
Credit card interest
Tax return preparation fee
Compute tax liability
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