Raj uses 3/5th of his house for business purposes. The area of his house is 1000 Sqft. Calculate how much he can Claim as Home Off‌ice expenses if he has incurred the following expenditure during the year:

-Real estate taxes $1500

-lnsurance $500

-Painting the Off‌ice Space $200

-Interest on mortgage $2000

Bruce has received the following from his employer during the year: $25,000 as regular wages, $5,000 as cash bonus. $1.000 as traveling allowance, and $100 per month as parking allowance for parking at a lot adjacent to the off‌ice building. The employer has also contributed $200 per month to a 401(k) plan for him. He chose not to set aside any part of his income for the retirement plan. How much income should he report?

In July 2007, Clara acquired and operated for profit a running business with the following assets basis:

Which of the following would be considered a f‌iscal tax year?

All of the following credits are part of the General Business Credit except .

Which of the following must you show to meet the directly related test for entertainment expenses?

Susan's husband died in the tax year 2007 and she didn't re-marry. She has two minor children living with her whom she has been supporting. The filing status with the lowest tax rate for which Susan Qualif‌ies is ____________.

You have received an acre of land as a gift. At the time of gifting, the land had an FMV of $6500. The donor's adjusted basis was $8200. the selling price is 510000, what is your gain or loss assuming that there has been no increase or decrease in the basis after you received the property?

Which of the following are organizational costs?

The fringe benefits are not taxable except .

Which of the following determines the basis of property received in exchange of services?