Thomas travels from his home in Massachusetts and flies to Paris to attend meetings related to his business. He plans to spend 10 days(including 2 travel days) conducting business and 4 days sightseeing for personal pleasure. His trip is primarily for business, Assume hehas the following expenses:Airfare and rail passLodging per dayMeals per day(a)$3,390$303$183Your answer is incorrect.How much can Thomas deduct as a travel expense in 2023? (Round intermediate percentage calculations to O decimal places, eg. 15%and final answer to 0 decimal places, eg. 5.125)Deduction S7335

According to the IRS (Internal Revenue Service) rules, if a trip to another country is primarily for…

Answered: Thomas travels from his home in…

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter9: Deduct Ions: Employee And Self-employed - Related Expenses

Section: Chapter Questions

Problem 16CE

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Joseph travels from his home in Massachusetts and flies to Paris to atterid meetings related to his business. He plans to spend 10 days (including 2 travel days) conducting business and 4 days sightseeing for personal pleasure. His trip is primarily for business. Assume he has the following expenses: Airfare and rail pass Lodging per day Meals per day (a) $3,560 $325 $182 x Your answer is incorrect. Deduction How much can Joseph deduct as a travel expense in 2023? (Round Intermediate percentage calculations to 0 decimal places, eg. 15% and final answer to 0 decimal places, eg. 5,125) 3,976
Jordan took a business trip from New York to Denver. She spent two days in travel, conducted business for nine days, and visited friends for five days. She incurred the following expenses: $ 450 2,500 625 500 Airfare Lodging Meals Entertainment of clients Required: How much of these expenses can Jordan deduct? Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar value. Deduction
Jimmy took a business trip from Dallas to Brazll. He was there for a total of seven days, of which two were weekend days. Over the weekend, he spent his time sightseeing and relaxing. His expenses were as follows: Airfare Lodging (7 days x $300) Meals (7 days) Taxi fares ($600 to and from business meetings) How much is Jimmy allowed to deduct? Multiple Choice O O $3,404 $3,496 $4,598 $4,895 $1,400 2,100 595 800
Jordan took a business trip from New York to Denver. She spent two days in travel, conducted business for nine days, and visited friends for five days. She incurred the following expenses Airfare $ 570 Lodging 3,708 Meals 925 Entertainment of clients 740 How much of these expenses can Jordan deduct? Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar value.
Barry is a self-employed attorney who travels to New York on a business trip during the year. Barry's expenses were as follows: Airfare $560 Taxis 40 Meals 100 Lodging 350 How much may Barry deduct as travel expenses for the trip? a. SO . $1,000 c. $1,050 d. $950 e. None of these choices are correct.
Jordan took a business trip from New York to Denver. She spent two days in travel, conducted business for nine days, and visited friends for five days. She incurred the following expenses: Airfare $ 440 Lodging 2,400 Meals 600 Entertainment of clients 480 Required: How much of these expenses can Jordan deduct? (Do not round intermediate calculations. Round your final answer to the nearest whole dollar value.)
Jordan took a business trip from New York to Denver. She spent two days in travel, conducted business for nine days, and visited friends for five days. She incurred the following expenses Airfare $ 550 Lodging 3,000 Meals 900 Entertainment of clients 750 How much of these expenses can Jordan deduct? (Do not round intermediate calculations. Round your final answer to the nearest whole dollar value.)
During the year, Sandy went from Detroit, MI to Chicago on business. She flew to Chicago on Sunday, worked on Monday and Tuesday, did some sightseeing on Wednesday and Thursday, and flew home on Friday. Her expenses are as follows: Air fare $400 Total Meal Expenses $600 ($100 per day) Assuming no reimbursement, calculate Sandy’s total allowable deduction for her travel expenses.
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Melissa recently paid $400 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 nights' lodging, $200 for meals in restaurants, and $150 for cab fare. a) What amount of these costs can Melissa deduct as business expenses? b) Suppose that while Melissa was on the coast, she also spent two days sightseeing the national parks in the area. To do the sightseeing, she paid $1,000 for transportation, $800 for lodging, and $450 for meals during this part of her trip, which she considers personal in nature. What amount of these costs can Melissa deduct as business expenses? c) Suppose that Melissa made the trip to San Francisco primarily to visit the national parks and only attended the business conference as an incidental benefit of being present on the coast at that time. What amount of the airfare can Melissa deduct as a business expense? d) Suppose…
In 2021, Carlos drives from his home in Los Angeles to Oregon to consult with a client. He works for 1 day and spends 3 days enjoying Oregon since the consultation was right before a 3-day weekend. His expenses were $175 to drive to Oregon and back, $600 for lodging, $50 for food from a convenience store on the day that he worked, and $125 for restaurant food on the other 3 days. How much of his travel expenses are deductible? $800 b.$350 c.$0 d.$200 e.$175
Paul broke his lease in Montreal, and purchased a condo in Toronto. He new from Vancouver to Toronto in one day expense are as follows: Time 1:38:32 Payment to break lease Legal fees to purchase new home Meals [1 day travel] Airline ticket $2,700 $7,000 $100 $1,000 His income in Montreal was $60,000 and $10,000 in Toronto for the taxation year Calculate his total deductible moving expenses. Enter your numerical answer in the box below and do not use commas or dobar signes 10000 Round your answer to the nearest whole dollar if necessary. Answer:

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