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Complete Schedule C$,$ Schedule D$,$ Form $4562,$ and Form $4797$ for the additional

information provided on Joe Keen$$s sole proprietorship. You will come across many

items on the tax return we have not talked about in class; if we have not covered it in class, and it is not included in the information below, you do not need to address it on this assignment.

$$ You may complete the return by hand $($neatly$)$ or typed using $2022$ forms found on Canvas or the IRS website.

$$ Use the following assumptions in preparing the return:

o Use all opportunities under law to minimize the $2022$ federal income tax.

o Use whole dollars when preparing the tax return.

o If required information is missing, use reasonable assumptions to fill in the gaps.The Keens have provided you some additional information pertaining to a construction business Joe

started. This business, GPE, is a sole proprietorship with Joe being the sole owner. GPE is located at $211$

NW Gina Way Beaverton, Oregon $97006($EIN $20-1616167).$

Joe reported the following information for GPE's business activities $($GPE uses the cash method of

accounting$)$:

Income

Expenses:

Advertising

Insurance $($for Sept. $1,2022-$ Dec. $31,2023)$

Office building rent $($for Jan. $1,2022-$ Dec. $31,2023)$

Equipment leases $($for Jan. $1,2022-$ Dec. $31,2023)$

Travel

Meals for employees, purchased from the grocery store

Fee for box at Oregan Duck games

Employee salaries

Taxes and licenses

Contributions to Sen. Robert's campaign

Employee health insurance

Employee benefit programs

Utilities

Office supplies

Legal and professional fees

Repairs and maintenance

Interest expense

$($used to purchase corporate bonds, adjusted taxable inc $=$$$10,000)$

$$7,240$

$22,000$

$63,400$

$7,050$

$14,400$

$4,000$

$8,000$

$576,980$

$38,225$

$14,000$

$47,900$

$15,500$

$39,725$

$17,650$

$14,670$

$9,375$

$3,230$

In the beginning of the year, Joe took a trip to Washington to attend a construction$-$related seminar. He

spent $4$ days attending the seminar and $3$ days visiting his sister$-$in$-$law. He had the following expenses,

which are not included in the above travel expense.

Joe owns a $2015$ Jeep. He started to use the Jeep for his business on lanuary $1,2016.$ He drave $2,200$

business miles during $2022($he has documentation to verify$)$ and spent $$475$ on parking fees. He drove

the vehicle for a total of $10,000$ miles during the year personal miles$).$ He also has access to

another vehicle that he can use for personal purposes.

GPE had the following foxed assets in service:

GPE would like to take advantage of $179$ expensing, but elects out of bonus depreciation, for purchases

in $2022.$ The company has not taken either of these additional depreciation options in prior years.

GPE listed some equipment for sale. The computer equipment, purchased on $10/31/2020,$ sold on

$\frac{03}{15}\frac{?}{2022}$ for $$421,000.$ They also sold the packaging equipment, purchased on $\frac{9}{22}\frac{?}{2021},$ on

$\frac{12}{15}\frac{?}{2022}$ for $$462,000.$

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