How is business use of car tax deducted

Assignment Help Accounting Basics
Reference no: EM13546728

If you are self-employed and work in line with accounting projects, then you can deduct this as your entity's business expense, as a working condition fringe benefit. If you are a W-2 employee, working for some company and the firm does not cover this CPA prep course expense, you may consider this as employee's unreimbursed
business expense. In this case, the deductible portion is the amount exceeding the 2% AGI threshold.

How is business use of car tax deducted?

Reference no: EM13546728

Questions Cloud

The hairdressers be indifferent between the two payments : The hairdressers be indifferent between the two payments options
Briefly explain why you chose each individual : Identify four types of specialists that you would assemble to provide information to help set the materials price and quantity standards. Briefly explain why you chose each individual
Monthly payroll : Monthly payroll
Determine the location e of the shear center : Determine the location e of the shear center, pt. O, for the thin-walled member having the cross section shown. The member segments have the same thickness t.
How is business use of car tax deducted : How is business use of car tax deducted?
How much energy in horsepower is lost by the water while : A pipeline 1200 ft long and 8 in. in diameter has at its inlet point 75ft of available hydraulic energy with respect to the reference level. The velocity in the pipe is 5 fps: the pressure at its end is 12psi.
What is working condition fringe benefit : What are some examples of benefits that are nontaxable to 2%+ shareholder-employees? Specifically, what is working condition fringe benefit?
When a sample of this soil is dried in the laboratory : The bottom of a rectangular flume is 5m above reference level. The depth of the water in the flume is 3m. The average velocity is 1.7m/s. Compute the hydraulic energy at the surface of the water and at the bottom of the flume.
Calculate the maximum weight that can be sustained : A heavy Machine is lowered into a pt by means of a rope wrapped around an 8" diameter stationary pole placed horizontally across the top of the pit. The coefficient of static friction for the rope on the pole is 0.35.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Processing department during the month

How many units were transferred to the next processing department during the month?

  The zenith manufacturing corporation sells a certain

the zenith manufacturing corporation sells a certain product at a price of 50 each. the variable costs involved in the

  Calculate how much estate tax would have been saved

Harold and Maude are married and live in a common-law state. Neither have made any taxable gifts and Maude owns (holds title) all their property. She dies with a taxable estate of $15 million and leaves it all to Harold. He dies several years late..

  Cedars hospital has average revenue of 180 per patient day

cedars hospital has average revenue of 180 per patient day. variable costs are 45 per patient day fixed costs total

  What are the 3 different trial balances

What are the differences between accrual and cash basis accounting? Why is cash accounting not appropriate for financial reporting?

  Problem related to performance evaluation

Rae Corporation has $100,000,000 in invested capital. The income (NOPAT) is $12,000,000. Sales were $240,000,000. The required return is 10%.

  With the increasing use of technology in the workplace

with the increasing use of technology in the workplace determine if workplace security is getting easier or more

  Job no 115 was the only job in process at the end of the

general corporation employs a job order cost system. on may 1 the following balances were extracted from the general

  Treatment as an extraordinary item

Which of the following would be treated as an extraordinary item?

  Presented is information related to rogers co for the month

presented is information related to rogers co. for the month of january 2011.ending inventory per perpetual

  Deducting as an ordinary loss

she contributed an additional $20000 to the corporation to help them. How much of her loss may she deduct as an ordinary loss?

  Lagerfield company reported the following results from the

lagerfield company reported the following results from the sale of 4220 hammers in may sales 198340 variable costs

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd