Question

3) Charles, a self-employed real estate agent, attended a conference on the impact of some new...

3)

Charles, a self-employed real estate agent, attended a conference on the impact of some new building codes on real estate investments. His unreimbursed expenses were as follows:

Airfare                                     $480

Lodging                                    290

Meals                                         200

Entertainment          100

How much can Charles deduct on his return?   

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1
Particulars Amount
Airfare              480.00
Lodging              290.00
Meals              100.00
Entertainment                       -  
Total              870.00

Deduction is:

870.00

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Charles, a self-employed real estate agent, attended a conference on the impact of some new building...
Charles, a self-employed real estate agent, attended a conference on the impact of some new building codes on real estate investments. His unreimbursed expenses were as follows: Airfare 480 Lodging 290 Meals 200 50% deductible Tuition and fees 650 How much can Charles deduct on his return? Show your work
Carl is a self-employed real estate agent. For the current year, his self-employment net earnings (revenues...
Carl is a self-employed real estate agent. For the current year, his self-employment net earnings (revenues minus expenses) are $80,000. He is also employed as an accountant with a gross salary of $70,000 for the year. Assume that the appropriate social security income ceiling for the year is $130,000 and that the self-employed FICA rates are 12.4% for social security and 2.9% for Medicare. What is Carl s self-employment tax liability for the year? $9,583 $10,901 $11,304 $12,240
1.Melissa recently paid $600 for round-trip airfare to San Francisco to attend a business conference for...
1.Melissa recently paid $600 for round-trip airfare to San Francisco to attend a business conference for three days. Melissa also paid the following expenses:    $250 fee to register for the conference,    $300 per night for three night’s lodging,    $200 for meals, and    $150 for cab fare.   What amount of the travel costs can Melissa deduct as business expenses? 2.Kimberly is a self-employed taxpayer. She recently spent $1,000 for airfare to travel to Italy. On the trip,...
Problem 9-31 (LO. 3, 5) In June of this year, Dr. and Mrs. Bret Spencer traveled...
Problem 9-31 (LO. 3, 5) In June of this year, Dr. and Mrs. Bret Spencer traveled to Denver to attend a three-day conference sponsored by the American Society of Implant Dentistry. Bret, a self-employed practicing oral surgeon, participated in scheduled technical sessions dealing with the latest developments in surgical procedures. On two days, Mrs. Spencer attended group meetings where various aspects of family tax planning were discussed. On the other day, she went sightseeing. Mrs. Spencer does not work for...
Jordan (single, age 30), a real estate broker (self-employed), had the following income and expenses: Commission...
Jordan (single, age 30), a real estate broker (self-employed), had the following income and expenses: Commission income 180,000 Medical insurance premium paid for his staff                                                                             10,000 Office staff salary expense                                                                                                                40,000 Medical insurance premium paid for himself     7,000 Office rental expense 30,000 Unreimbursed medical expenses paid for himself     5,000 Which of the following statement is correct? A. Jordan will report $93,000 as his business income (from Schedule C) and his AGI is $88,000. B. Jordan will report...
Problem 9-31 (Algorithmic) (LO. 3, 5) In June of this year, Dr. and Mrs. Bret Spencer...
Problem 9-31 (Algorithmic) (LO. 3, 5) In June of this year, Dr. and Mrs. Bret Spencer traveled to Denver to attend a three-day conference sponsored by the American Society of Implant Dentistry. Bret, a self-employed practicing oral surgeon, participated in scheduled technical sessions dealing with the latest developments in surgical procedures. On two days, Mrs. Spencer attended group meetings where various aspects of family tax planning were discussed. On the other day, she went sightseeing. Mrs. Spencer does not work...
Delta airlines case study Global strategy. Describe the current global strategy and provide evidence about how...
Delta airlines case study Global strategy. Describe the current global strategy and provide evidence about how the firms resources incompetencies support the given pressures regarding costs and local responsiveness. Describe entry modes have they usually used, and whether they are appropriate for the given strategy. Any key issues in their global strategy? casestudy: Atlanta, June 17, 2014. Sea of Delta employees and their families swarmed between food trucks, amusement park booths, and entertainment venues that were scattered throughout what would...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT