Use the forms and instructions to the forms. Ignore Schedule SE$.$

You are a new staff accountant at the XYZ CPA Group. Your boss, XYZ JR$,$ has given you the task of preparing a Form $4562$ and Schedule C for Joseph Schmoe for the tax year $2023($use $2022$ forms$)$

Joseph owns a consulting company called In the KNOW.

The following is a summary of what is needed to complete these forms.

Use sch C and SE and $4652$ for $2022.$

These can be found on IRS.gov

You will hand in forms on $12/5$

Sales $$210,000$

Rent $12,000$

Utilities $8,500$

Legal $8,500$

Salary $52,000$

Depreciation $????$

Cost of office equipment acq

This year $($summer $2023)$

Considered $7$ yr prop.

$$480,000$

Real estate Aug $15,2023700,000$

Depreciation on assets

Acquired before $202315,200$

Joseph elects out of bonus

But wants to take the maximum

Under Section $179$ if possible.