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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 .
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.
The discrimination rule applies to this type of fringe benefit, and accordingly, Jean must include the entire cost of the parking in her gross income.
Besides taking the exclusion for foreign earned income, what other options are available to Eva?
How, if at all, would your answer to Part a. differ if Jack's assignment lasted until August 7, 2015?
What portion of the group-term life insurance cost is included in Fred's gross income for the year?
Discuss the consequences to Randy and Jon if the plan does not favor key or highly paid employees.
Discuss the tax consequences to Fritz and Tad of the discounts they each received during the year.
The salary and interest from the bonds are Michael and Rachel Dugans' only sources of income.
How much of the scholarship payments can Rob exclude from gross income in 2014? Why?
Todd was physically injured on the job. He is reimbursed $16,400 for medical expenses he paid as a result of his injuries.
Compute the maximum contribution that Kathy may make to her Roth IRA. Where does she deduct this amount on her tax return?
Trey's airfare to Baltimore was $450. Veronica paid $151 for gas, $260 for lodging, and $110 for meals while en route to Baltimore.
How much of the $7,800 in health insurance premiums can Ashley deduct? Where on her tax return does she take this deduction?
What is the maximum self-employed health insurance deduction that can be claimed as a deduction for AGI?