Prior to the Taxpayer Relief Act of 1997, an entrepreneur who spent most of the day at customers' locations could
A) not take a take a tax deduction for a home office.
B) take a large deduction for a home office.
C) take a deduction for a home office only if the business was in the service industry.
D) take a deduction for a home office as long as it was furnished with appropriate office furniture.
Correct Answer:
Verified
Q45: Which of the following might restrict home-based
Q46: Before beginning a home-based business entrepreneurs should
Q47: Home-based businesses
A) have special insurance needs.
B) may
Q48: Insurance for a home-based business
A) is automatically
Q49: A recent survey found many home-based entrepreneurs
A)
Q51: According to the U.S. Small Business Administration,
Q52: If an entrepreneur uses a home office
Q53: Because of the Taxpayer Relief Act entrepreneurs
A)
Q54: If a home is depreciated as part
Q55: The home office tax deduction is advantageous
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