Standard Business Expenses
- Bad Debt
- Bank Fees
- Car and Truck Expenses
- Charitable Donations
- Conventions and Trade Shows
- Home Office Deductions
- Legal, Accounting and Professional Fees
- Maintenance, Repairs and Renovations
- Meals and Entertainment
- Non-Cash Gifts and Rewards
- Office Supplies, Tools and Services
- Qualified Business Income
- Rent and Property Leases
- Research and Development (R&D)
- Salaries and Wages
These are all approximate numbers
Front of your paper you’re a teacher and you make $100,000 a year and you have a tax rate of 30% at the end of the year tell me how much you get to keep and how much you have to pay in taxes.
On the back of the paper you have an amazon business that you run from your house and also make $100,000. How much do you have to pay in taxes at the end of the year.
Show me the write offs for each item and then total it at the end (20 points) Needs to be done on paper not computer.