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You interviewed a new client and these were the facts provided. Provide them with a...

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Accounting

You interviewed a new client and these were the facts provided. Provide them with a brief explanation of tax reason for each.
Charles is a musician and music composer. He earned $88,000 as a musician and $3500 in
royalties from music that he composed. One room in his home 500 sq ft out of 5000 sq ft
home, is his studio and office. He paid 4 quarterly estimates of $12,000 in total. His mileage
was 3500, gas cost $1200, tolls $50, parking $65, car washes $60, AAA membership $120,
business car insurance $1900 and depreciation this year on the car $2200. His music
supplies are $600, legal and accounting of $2800. He hired an occasional music student for
$500 this year.

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