Mikes agi is 120000 before any of the above expenses are

Assignment Help Accounting Basics
Reference no: EM13607327

Employment-Related Expenses. Mike incurs the following employment-related expenses
in the current year:
Actual automobile expenses ` $ 2,500
Moving expenses (deductible under Sec. 217) 4,000
Entertainment expenses 1,500
Travel expenses (including $500 of business meals) 2,500
Professional dues and subscriptions 500
Total 1100

Mike's AGI is $120,000 before any of the above expenses are deducted. None of the expenses listed above are reimbursed by Mike's employer. He has no other miscellaneous itemized deductions and does not use the standard deduction.
a. What is the amount of Mike's deduction for employment-related expenses?
b. How are these items reported in Mike's tax return?

Reference no: EM13607327

Questions Cloud

Explain why it is necessary to have more than one standard : explain why it is necessary to have more than one standard procedure for defining and measuring central tenedncy and
Two circuits are constructed using identical ideal : two circuits are constructed using identical ideal batteries emf e and identical lightbulbs resistance r. if each
A cost center is a unit of a business that incurs costs but : a cost center is a unit of a business that incurs costs but does not directly generate revenues. which of the following
What is the work required using the saturated liquid : saturated liquid water at 25 degrees c is pumped to a pressure of 5 mpa in an isothermal process. the specific work
Mikes agi is 120000 before any of the above expenses are : employment-related expenses. mike incurs the following employment-related expensesin the current yearactual automobile
From the given data what is the accumulated estimate of the : given two samples a and b with population size of a 30 sample variance of a 45.3 and a population size of b 25 sample
The potential difference between the plates is 823 mv how : 1. a cell membrane has a surface area of 1.00 x 10-7 m2 a dielectric constant of 6.01 and a thickness of 7.76 nm. the
On january 1 2012 abc borrowed 1200000 at 10 payable : on january 1 2012 abc borrowed 1200000 at 10 payable annually to finance the construction of a new building. in 2012
Assume that a procedure yields a binomial distribution with : assume that a procedure yields a binomial distribution with a trial repeated n times. use the binomial probability

Reviews

Write a Review

Accounting Basics Questions & Answers

  Company a had a total deletable capitalized cost of 656000

company a had a total deletable capitalized cost of 656000 for a mine acquired in early 2010. it was estimated that the

  Evans company is currently using an order size of 1000

evans company has the following informationannual demand -----------------------------------------4000 unitscurrent

  Bridgette is known as the doll lady she started collecting

bridgette is known as the doll lady. she started collecting dolls as a child always received one or more dolls as gifts

  Froeign statement translation

Determine the inventory value using both the temporal and current methods. Show how this will be reflected on Royal Tea's statements and the consolidated statements of U.S. Beverages. Use the following information for this calculation:

  Type of business determine appropriate information system

When considering the impact of the information age on business, what are some issues business owners should address in deciding to use information technology. Would the type of business determine the appropriate information system?

  Find a line item listed on either the income statement or

find a line item listed on either the income statement or balance sheet of nike inc. that would indicate an adjusting

  Prepare the journal entry to record the issuance

On January 1, 2010, Lauren Corporation issued $40,000, 9%, ten-year bonds payable at 108. Interest is payable each December 31.

  The following transactions were selected from the records

the following transactions were selected from the records of evergreen companyjuly 12sold merchandise to wally butler

  What is the rate of return on common stockholders equity

What is the rate of return on common stockholders' equity if sales are $100,000, net income is $22,700, and average common stockholders' equity is $86,000?

  Service revenue-accounts receivable-interest expense

The bookkeeper for Wooster Company asks you to prepare the following accrued adjusting entries at December 31. Interest on notes payable of $400 is accrued.

  If the raw materials purchased during april totaled 63000

if the raw materials purchased during april totaled 63000 what was the cost of the raw materials used in production for

  The charade company is preparing its manufacturing overhead

the charade company is preparing its manufacturing overhead budget for the fourth quarter of the year. the budgeted

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