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ACCT 310-81 ACCT310-81 ACCT/310-81 fed tax I Week9 HW.docx

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CCT 310-81 ACCT310-81 ACCT/310-81 fed tax I Week9 HW.docx

Week #9 Homework
6-33)
a)Travel to client locations ($750) – deductible expense for the AGI. Subscriptions to professional journals ($215) – deductible expense from the AGI. Talking potential client to lunch ($400) – deductible expense from AGI. Photocopying ($60) – deductible expense from AGI.
b)

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ACCT 310-81 ACCT310-81 ACCT/310-81 fed tax I Week9 HW.docx

Week #9 Homework
6-33)
a)Travel to client locations ($750) – deductible expense for the AGI. Subscriptions to professional journals ($215) – deductible expense from the AGI. Talking potential client to lunch ($400) – deductible expense from AGI. Photocopying ($60) – deductible expense from AGI.
b)No, the answers would not change because they are all business expenses that are reimbursed by the employer.
c)If Roberta was self-employed, all the expenses would be for AGI. All the expenses would be deductible to the extent in which they exceed a prescribed percentage of the individual’s AGI.