Ask Question
29 December, 04:17

During the year, John (a self-employed management consultant) went from Milwaukee to Hawaii on business. Preceding a five-day business meeting, he spent four days vacationing at the beach. Excluding the vacation costs, his expenses for the trip are: Airfare $3,200 Lodging 900 Meals 800 Entertainment 600 Presuming no reimbursement, deductible expenses are:

+3
Answers (1)
  1. 29 December, 05:40
    0
    Answer and Explanation:

    Business deduction according to IRS rules:

    Particular Amount

    Expenses on travelling (100%) $3,200

    Meal (50% deductible) $800 * 50% $400

    Entertainment (No deduction) $0

    Loading charges (100%) $900

    Total deductible expenses $4,500
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “During the year, John (a self-employed management consultant) went from Milwaukee to Hawaii on business. Preceding a five-day business ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers