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Volgvan
3 years ago
6

Kendra is a self-employed taxpayer working exclusively from her home office. Before the home office deduction, Kendra has $6,000

of net income. Her allocable home expenses are $10,000 in total. How are the home office expenses treated on her current year tax return
Business
1 answer:
anyanavicka [17]3 years ago
7 0

Answer:

Only $6,000 home office expenses may be deducted, resulting in net business income of zero. The remaining $4,000 of home office expenses may be carried forward and deducted in a future year against business income.

Explanation:

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in 2021, kiana's house boat was destroyed by a storm in a region that was declared a federal disaster area by the president. she
luda_lava [24]

Kiana will report under the head of natural disaster and its compensation amount is also exempt.

  • In income tax, there are a total of five heads of income viz
  1. income from salary
  2. Income from house property
  3. Income from profits and gain of business or profession
  4. Income from capital gains
  5. Income from other sources
  • Each head of income describes different features of income that are taxable.
  • Income tax is a tax levied on income or profits received by an individual or entity. Income tax is usually calculated as the product of tax rate and taxable income.
  • Tax rates vary depending on the type and characteristics of the taxpayer and the type of income.

Thus, Kiana's loss results from a natural disaster that is exempt under section 10(10BC).

To know more about income tax refer : brainly.com/question/26316390

#SPJ4

5 0
1 year ago
All of the following factors combine to help determine whether a vehicle is a value except: Low price. High quality. Level of st
RUDIKE [14]

Answer:

Both low price and high quality.

Explanation:

The characteristics that make a product or service have a perceived value for the consumer, are the various functionalities and benefits that satisfy the needs and desires of the customer. Such benefits are independent of the price of the product or quality, since value is a set of rational or irrational attributes that the consumer perceives, such as the brand image, experience, functionality, product benefits, etc.

Value creation is variable for each consumer group, as each person perceives value as a set of specific attributes that satisfy their desires, so it is not possible to classify low price or high quality as value determinants, as these characteristics change according to the consumer's style.

Therefore, for a company to deliver value to the consumer, it is essential that it conducts segmentation studies and identification of its target audience and from there develop strategies aimed at creating value for its audience.

7 0
3 years ago
A market often characterized by one-on-one bargaining is a(n) _______ market.
Neko [114]
<span>barter The barter market involves people directly trading goods and services for other goods and services. In this system haggling is customary.</span>
6 0
3 years ago
The brochure for Spa Sydell has photographs of people enjoying the various spa amenities. By seeing the pictures of available tr
arsen [322]

Answer:

C. intangibility

Explanation:

Intangibility -

It refers to a non - tangible thing , i.e. , incapable of touching as it could be a immaterial object .

Or something that is not clear ,

Hence , from the question ,

The brochure given by the spa , consists on many pictures that give people a better idea and make a wise decision to whether or not visit the spa or not  .  

6 0
4 years ago
Determine whether each of the following events causes a shift of a curve or a movement along a curve in the short run. Indicate
Vaselesa [24]

Answer:

Check the explanation

Explanation:

Increase in value of dollar has made the foreign steel (a major commodity used in production) cheaper for American producers.

This will reduce the cost of production of American Producers and would increase their profit-margin.

This will induce US firms to produce more and therefore there will be increase in short-run aggregate supply.

So, the given scenario will involve short-run aggregate supply curve and would shift the curve to the right.

Kindly check the attached image below to see the required graph -

4 0
4 years ago
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