Melanie is employed full-time as an accountant for a national hardware chain. She also has recently started a private consulting practice, which provides tax advice and financial planning to the general public. For this purpose, she maintains an office in her home. Expenses relating to her home for 2016 are as follows: Real property taxes$6,500
Interest on home mortgage7,800
Operating expenses of home1,625
Melanie's residence cost $449,500 (excluding land) and has living space of 2,000 square feet, of which 33% (660 square feet) is devoted to business. The office was placed in service in February 2015, and under the regular method, Melanie had an unused office in the home deduction of $1,500 for 2015. Presuming sufficient net income from her consulting practice.
Required:
a. What is Melanie's office in the home deduction under the regular method.
b. What is Melanie's office in the home deduction under the simplified method.

Location test: question 1 of 54)water is a solvent because itoa. is made of moleculesob. dissolves many substancesc. is a saltd. has a large buffering capacity

True or false payroll withholding includes income tax, social security tax, medicare tax as well as money you deduct for your retirement fund.

P8-4b dropping unfavorable division based on the following analysis of last year's operations of groves, inc., a financial vice president of the company believes that the firm's total net income could be increased by $160,000 if its design division were discontinued. (amounts are given in the thousands of dollars.) required provide answers for each of the following independent situations: a. assuming that total fixed costs and expenses would not be affected by discontinuing the design division, prepare an analysis showing why you agree or disagree with the vice president. b. assume that the discontinuance of the design division will enable the company to avoid 30% of the fixed portion of cost of services and 40% of the fixed operating expenses allocated to the design division. calculate the resulting effect on net income. c. assume that in addition to the cost avoidance in requirement (b), the capacity released by discontinuance of the design division can be used to provide 6,000 new services that would have a variable cost per service of $60 and would require additional fixed costs totaling $68,000. at what unit price must the new service be sold if groves is to increase its total net income by $180,000?