Garland uses the family room of his home for his business.The children share his computer for their homework and games.The family room also contains the TV and homework space for the children.The IRS is likely to disallow his deduction for this space because:
A) a separate space must be clearly set aside for the sole use of the business.
B) his business did not generate enough income to qualify as a real business.
C) no deduction is allowed for space in the home used for a business.
D) the IRS designates any home-based business as a hobby and hobby expenses are not deductible.
Correct Answer:
Verified
Q61: Amazon.com represents the classic _ firm.
A)B2B
B)B2C
C)C2C
D)Auction site
Q62: John created Acme Online to allow paper
Q62: E-commerce refers to
A)B2B models of doing business.
B)the
Q64: Juanita is considering locating her a consulting
Q65: Jason has neither a website nor a
Q66: ShoeBiz produces shoes that until recently have
Q67: Hermione decided to create an Internet site
Q69: A variation of the content model is
Q70: Sites such as eBay and Bidstart.com derive
Q74: For small businesses, the Internet tends to
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents