00:01
You create a formula in excel for genidd which is based on the provided information.
00:07
You create a table and you have description here, parts, volume, retained amount and parts category.
00:16
And after that, you enter all the necessary information provided and you separate it with the category income, income and expenses.
00:26
Supplies, 3 ,000, insurance, 1 ,000, advertisement, these are all expenses here.
00:35
As you can see here, business travel, meal and lodging and transportation, too.
00:45
Here it's expenses.
00:46
And computer equipment, office, furniture are under section 179 expenses.
00:54
Office, road, vehicle and art comes under depreciation.
01:03
This 20 ,000 comes under depreciation.
01:08
Estimated quarterly tax payment is estimated tax loss for off -sea income minus 5 ,000 capital loss.
01:22
Qualified dividend from epic, 4 ,000, qualified dividend, interest income, fbb bank, 3 ,000, interest income, medical expense, medical expense.
01:35
And this is residential property tax, 1 ,265 property tax and mortgage interest, 2 ,700 mortgage interest.
01:45
And the last information, which is it comes under tax, 2 ,300 per table contribution.
01:54
And after this, you do the calculation for total income, which in which this sum if cs2 and cs21.
02:11
And it comes under income b2 to b21.
02:18
And total expense also, same thing.
02:22
Instead of income, you put expenses.
02:27
And net income would be total income minus total expenses.
02:34
And under the net income formula would be qualified dividend minus capital loss plus interest income.
02:43
So net income would be, i mean taxable income.
03:20
Taxable income is equals to net income plus e13, which is qualified dividend minus e14.
03:37
That is capital loss plus e15, interest income.
03:45
And final, i mean calculating section 17, 179, i mean, deduction, which is computer equipment and office furniture...