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Questions and Answers
What is included in the category of 'Depreciation' for additional deductions?
What is included in the category of 'Depreciation' for additional deductions?
- Advertising and marketing expenses
- Office supplies and furniture
- Employee salaries and benefits
- Machinery, equipment, and vehicles (correct)
What can be deducted as a business expense under 'Business use of home expenses'?
What can be deducted as a business expense under 'Business use of home expenses'?
- Using your home as a principal place of business (correct)
- Personal grocery expenses
- Vacation travel costs
- Home renovation costs
What does 'Bad debt expenses' refer to for additional deductions?
What does 'Bad debt expenses' refer to for additional deductions?
- Inventory costs
- Uncollectible accounts receivable (correct)
- Utility bills
- Legal fees
What assets are included in depreciation for additional deductions?
What assets are included in depreciation for additional deductions?
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What are bad debt expenses in the context of additional deductions?
What are bad debt expenses in the context of additional deductions?
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How can the business use of home expenses be deducted as a business expense?
How can the business use of home expenses be deducted as a business expense?
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What is depreciation in the context of additional deductions?
What is depreciation in the context of additional deductions?
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What are bad debt expenses and how are they related to additional deductions?
What are bad debt expenses and how are they related to additional deductions?
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How can business use of home expenses be utilized as an additional deduction?
How can business use of home expenses be utilized as an additional deduction?
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