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  3. during the current year, kb has the following cost

During the current year, KB has the following costs: Utility Costs for Home $2,500 Maintenance and Repairs...

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Accounting

During the current year, KB has the following costs:

Utility Costs for Home $2,500

Maintenance and Repairs for Home 3,100

Property Taxes for Home 5,400

House Insurance 1,300

Interest on Mortgage 4,600

Home Telephone Monthly Charge 600

Separate Line to Home-Work-Space Monthly Charge 480

Employment Related Long Distance Charges 560

Home Internet Service Fees 720

KB estimates that he/she uses 18 percent of his residence and 30percent of his home internet service for employment/businessrelated purposes. Maximum CCA on 100 percent of the house would be$12,000. Determine the maximum deduction that would be available toMr. Beasley assuming:

A. He is an employee with $72,000 in income (nocommissions).

B. He is an employee with $72,000 in commission income.

Answer & Explanation Solved by verified expert
3.9 Ratings (450 Votes)
A Particulars Employee with NO commission income Income 72000 Add Less Deduct age of below costs from income Utility Costs 250018 450    See Answer
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