Self-Study Education
for the Tax Professional
TaxEase, LLC
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student's continuing education hours
to either or both the IRS and CTEC
upon successful completion of this
course.
2017 Corrections and Updates

   CA Update 9/7/2017  DOWNLOAD NOW
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Tax Law Correction - Question 15 - 07/01/2017

    15.        For a Home Daycare business which of the following is   
    not correct regarding the Business Use of Home?

    A. If a taxpayer regularly uses a specific area of his home in the
    trade or business of providing day care services, he or she
    generally can claim a deduction for the expenses allocable to
    that specific area of his home.
    B. In addition, if that area of his home is not used exclusively in
    providing day care services, he or she must make another
    allocation of those expenses based on the percentage of time
    that the area is used in providing day care services.
    C. Computing the time allocation would exclude computing the
    area of the home. Both allocations are not used.
    D. A time allocation is computed by taking the time the time the
    home is used to provide day care services and comparing the
    amount of time that the home can be used for all
    purposes (usually 365 days x 24 hours (8,760 hours).