I own H & R Block Assignment.
Tax Return Problem – Decision Making – Communications Jane Smith, age 40, is solitary and has no dependents. She is populated as a lawful secretary by Lawful Services, Inc. She owns and operates Typing Services located nigh the campus of Florida Atlantic University at 1986 Campus Drive. Jane is a symbolical participant in the profession. She is a specie foundation taxpayer. Jane lives at 2020 Oakcrest Road, Boca Raton, FL 33431. Jane's Social Security calculate is 123-45-6789. Jane indicates that she wants to detail $3 to the Presidential Election Campaign Fund. Jane had bloom protection for all months of 2016. During 2016, Jane had the subjoined allowance and payment items:
$100,000 stipend from Lawful Services, Inc.
$20,000 animal receipts from her typing services profession.
$700 share allowance from Third National Bank.
$1,000 Christmas benefit from Lawful Services, Inc.
$60,000 duration protection allowance on the termination of her sister.
$5,000 curb absorbed to her by her monied aunt.
$100 won in a bingo recreation.
Expenses conjoined after a while the typing service:
Office rupture $7,000 Supplies 4,400 Utilities and telephone 4,680 Wages to part-spell typists 5,000 Payroll taxes 500 Equipment ruptureals 3,000
$9,500 share payment on a dwelling hypothecation (hired to San Jose Savings and Loan).
$15,000 untarnished market prize of silverware stolen from her dwelling by a burglar on October 12, 2016. Jane had hired $14,000 for the silverware on July 1, 2007. She was reimbursed $1,500 by her protection troop.
Jane had advanceed $2,100 to a chum, Joan Jensen, on June 3, 2013. Joan professed bankruptcy on August 14, 2016, and was feeble to reward the advance. Assume that the advance is a bona fide default.
Legal Services, Inc., after a whileheld Federal allowance tax of $16,000 and the alienate sum of FICA tax from her allowance.
Alimony of $10,000 common from her preceding wife, Ted Smith.
Interest allowance of $800 on City of Boca Raton bonds.
Jane made estimated Federal tax payments of $1,000.
Sales taxes from the sales tax board of $946.
Property taxes on her dwelling of $1,100.
Chariboard subscription of $2,500 to her alma mater, Citrus State College.
On November 1, 2016, Jane was concerned in an automobile clothing. At the spell of the clothing, Jane's automobile had an FMV of $45,000. After the clothing, the automobile's FMV was $38,000. Jane uncongenial the car on May 2, 2015 at a require of $52,000. Jane's car was familiar by protection, but accordingly the system had a $5,000 inference section, Jane ruled not to smooth a privilege for the impairment.