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Jack also runs his own tax preparation business on the side at 12 Main St., Virginia City NV 89406, as a single member LLC. His cash receipts from the business totaled $43,000 for 2014. He also is owed $1,700 from a client that refused to pay for his services. His expenses were as follows: rent $7,800, utilities $3,950, part-time contract labor $6,000, entertainment of clients at his country club $2,000, travel to conferences $1,570, insurance $1,000, and office supplies of $500. He also purchased tax software for $1,500 and a new computer for $1,800 during 2014. He paid $10,000 in estimated 2014 federal income taxes during the year at the regular quarterly payment dates. Jack also took a graduate course at UNR in taxation during the fall 2014 semester and paid $600 in tuition and $120 for the course textbook. Jack’s client Pete was being audited by the IRS. Jack paid the IRS agent $1,000 in cash to “take care of” Pete’s problem. Since Jack’s office needed painting and a painter Jack knows needed his taxes done, Jack bought the paint for $200 and then traded his tax prep services for the painter’s services. The fair value of the services exchanged was $750. Jack sold some business office furniture he acquired in 2011 for $5,000 for $1,500 on 11/10/14. He used MACRS 7 yr. half-year convention to depreciate the furniture.

How would this effect his Tax Return and add any filled out forms if possible

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