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The 50% limitation on meals and entertainment does not apply if the employer uses the per diem rate to reimburse employees for job-related meals.
Describe the six elements that are required to properly substantiate an employee's business expense deduction.
What are the characteristics of an accountable reimbursement plan and what distinguishes it from a nonaccountable plan?
Compute Shaun's car expense deduction using the standard mileage method.
Discuss where Ginger reports the reimbursement and car expense deduction on her tax return.
If Ricardo follows this routine for 250 days during 2014, how many miles qualify for the mileage deduction?
Cash basis taxpayers deduct prepaid amounts in the year of the payment ?
Taxpayers who use the safe harbor method for computing the home office deduction in one year can choose to use the actual operating costs .
How much more or less costly is it to manufacture the frames rather than to acquire them from Frames Unlimited?
Variations in the level of a single activity (the cost driver) explain the variations in the related total costs.
A company invests considerable time and money to develop sophisticated cost functions that rate high on all evaluative criteria.
Compare and contrast your company's ratios to industry and competitor standard ratios obtained from Yahoo Finance, Morningstar, MotleyFool, Macroaxis.
Cachet Inc. had a $93,000 balance in Accounts Receivable on July 1. In July, it expects to collect 55% of these receivables and 30% of the July credit sales.
You own a contract that promises an annuity cash flow of $350 year-end cash flows for each of the next 3 years.
Professional Judgment and Professional Skepticism - Is there a difference? Explain.
Compute Katie's travel expense deduction assuming the convention was held in the United States.
Compute Courtney's meals and entertainment deduction and discuss where she reports this amount on her tax return.
An accountant pays $525 for accounting courses to meet the state's continuing professional education (CPE) requirement. The accountant is employed as a CPA.
During the year, Kris spends $1,700 on qualified job search expenses in his pursuit of a job as a manager.
Explain what Russ might do in the way of tax planning to further support a claim that his painting is a business activity.
Compute Roger's itemized deductions for the work-related expenses.
How do these gambling activities affect Mark's gross income and his deductible expenses?
In contrast, nonluxury box seats sell for $50 for each game. How much can Alpha-Beta deduct for its rental of a luxury skybox?
Prepare the Jacksons' Form 1040A. Both want $3 to go to the presidential election campaign fund.
The health insurance premiums employers pay on behalf of their non-key, non-highly paid employees are always excluded from the employee's gross income.