Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Amelie is an employee who uses her personal automobile in connection with her job. During 2013, Amelie drove her car a total of 28,000 miles. Her business log shows that she drove 22,400 miles for business purposes. She reimbursed $0.30 per mile from her employer for her business miles and she makes an adequate accounting to her employer. During 2013, Amelie incurred the following actual expenses based on 100% business use that is, 28,000 miles:
Gas and oil$7,800
Repairs and maintenance 2,300
Depreciation 5,800
Insurance 1,440
Licenses and fees 300
$17,640
Compute Amelie's deduction before the 2% of AGI floor if she uses the actual cost method.
Compute Amelie's deduction before the 2% of AGI floor if she uses the standard mileage method.
Assume Amelie used the standard mileage method in 2013. In addition to the automobile expenses above, she made several business trips and incurred the following travel expenses:
Airfare$4,600
Hotel 1,860
Meals and entertainment720
Taxi fees and tips280
$7,460
None of the above expenses was personal in nature and she receive reimbursements from her employer of $4,476. If Amelie's AGI was $120,000, what is her deduction in 2013 after all limitations?
Prepare an argument for using the AMT to a taxpayer's advantage
Is franchising a good idea for Wong if franchisees want a minimum monthly operating income of $6,000 and Wong believes that most locations could generate $26,000 in monthly sales?
Show whether this tax planning strategy is advisable for Donna Noble. Find what are two other strategies that she could also consider?
Prepare the required journal entry to record the tax expense
What is he supposed to report on his 2013 return and what is his basis in the car? He plans to use it in his business and wants to depreciate it. The company had been depreciating it over 5 years using MACRS.
Discuss- A tax on cigarettes is a good way of raising tax revenue for the government
Prepare a tax research memo to the file that addresses the issues you feel are most relevant to Mimi's various issures.
Evaluate the cost of a 20-guest afternoon picnic and evaluate the cost of a 20-guest evening formal dinner.
The net effect of this arrangement is a reduction in their income tax liability - Will Carol and Jared''s plan work? Explain
Evaluate price and quantity variances for nursing costs and evaluate spending and efficiency variances for supplies and other variable overheads.
How do I evaluate the tax on the total cumulative gifts of 1,548,000? The answer is given to us which is 577,400 but we require to show how we got to that answer. Please help.
Evaluate the amount of taxes paid in Country
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd