User Account

All Pages

What is the total amount of linda deductible expenses

Assignment Help Accounting Basics
Reference no: EM133157532

Question - Linda is? self-employed and incurs $4,320 of? business-related travel and entertainment expenses during 2020 in which she was away from home overnight. These business expenses include the? following:

Data table

Airfare $1,800

Taxi fare 150

Meals eaten alone while away from home on business 540

Laundry 80

Lodging 750

Business meals with customers at which business is discussed 200

Entertainment of customers 800

Total $4,320

Linda also pays $1,500 of investment counseling fees and $250 of tax return preparation fees in the current year.

Required -

a. What is the total amount of Linda's deductible expenses for 2020??

b. Are the deductible expenses classified as for AGI or from AGI?

Reference no: EM133157532

Questions Cloud

Successful emergent strategy in any field : Have you observed a case of successful emergent strategy in any field? Briefly describe the events. Why was the strategy successful?
Company business in domestic and global environments : How would these factors affect your company's business in your Domestic and Global Environments?
Educational accomplishments : Many potential employers and managers considering employees for promotion will ask you to reflect back on your educational accomplishments.
Create a social media post advertising the new product : Manage the impact of the new idea, you are required to create a social media post advertising the new product to existing and new customers
What is the total amount of linda deductible expenses : Linda also pays $1,500 of investment counseling fees and $250 of tax return preparation fees in the current year. What is the total amount of Linda? deductible
Improve performance of organizational team : Develop strategy to use two out of eight indicators to improve the performance of organizational team that you have observed or were part of during your career
What are the tax consequences of this rollover : Assume Carrie Ann has a traditional deductible IRA that has a balance of $55,000. What are the tax consequences of this rollover
Describe how the continuous improvement and innovation plan : Describe the impact the changes/opportunities/new ideas and associated actions will have on the organisation or work area as well as the consequences for people
Summarize the health care offering : Identify and summarize the health care offering. Who/what is the target market? What is the projected value to the consumer? To the provider?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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