Joseph incurred a number of expenses in relation to his legal practice and investment

property for the year ended 30 June 2010:

_ He paid 0 on 24 October 2009 to his tax agent to lodge his income tax return for the

2009 income year.

_ He paid 00 in borrowing expenses on 1 February 2010 to his bank for a 12 year loan

to purchase a new rental property that commenced earning income on that day.

_ He paid 50 in insurance premiums on his business premises on 1 May 2010 for

insurance cover to 30 April 2011.

_ He paid 00 for six months supply of stationery to use in his business on 13 June

2010. The stationery was delivered on that day and he had 00 of that stationery on

hand at 30 June 2010.

Assuming that Joseph is not eligible to be a small business entity (SBE) what amount can

Joseph claim as deductions (to the nearest dollar) for the year ended 30 June 2010?

A:91.

B:50.

C:50.

D50.

E:92.

I am a 1099 worker (I am pretty sure I am an employee, but that is a different saga altogether) who has been working for this company for over two years and has always paid her "self-employment" taxes. For two years in a row I have used TurboTax and shelled out a hefty sum to get the "Business Suite" editions. And, my tax bill has never been less than ,600 for a ,000-,000 gross annual income. However, some of my coworkers (who make more than I do per year) use tax preparers who somehow are using the same deductions I claim (auto, medical expenses, school, etc) and yet their tax bills are somewhere around 0 for a larger annual gross income than mine. I am wondering how in the world this is possible, and if it is possible for me to use a tax preparer to somehow amend my last two years’ returns and get my money back.
Please, only people who actually know about this stuff and not just people guessing or being bored and making smart alecky comments. Much appreciated!
As for you, with the "canned response" which is prefaced with a needlessly abbrasive and insulting opener, I am pretty certain I will get fired if I do the SS-8. And seeing that I only make K a year, I don’t really have the time and resources to be unemployed while I go through lawsuits and whatever else. The job market, especially here, sucks and I have not been able to get a new job after aggressively trying for six months. So you can take your canned response and shove it.