Billy Bob Sanders is a solf-employed management consultant. He reports on the cash basis for tax pupposes. For the current year, he paid the following expenditures reated bo his consillnz burhess. $12,000 business meals with clients; business was dscussed during the meals $8,000 hotel oxponses while out of town on business $3,000 Houston Astros season tickets; took clients to the games and butiness was discussed diring the ganes $4,000 continuing education fees $5,000 country club dues; country dub is used for business pruposes: From these expenditures, calculate the todal deduction amount that Baly Bob can tike against tis consuling inoome toc the curnent year.
Billy Bob Sanders is a solf-employed management consultant. He reports on the cash basis for tax pupposes. For the current year, he paid the following expenditures reated bo his consillnz burhess. $12,000 business meals with clients; business was dscussed during the meals $8,000 hotel oxponses while out of town on business $3,000 Houston Astros season tickets; took clients to the games and butiness was discussed diring the ganes $4,000 continuing education fees $5,000 country club dues; country dub is used for business pruposes: From these expenditures, calculate the todal deduction amount that Baly Bob can tike against tis consuling inoome toc the curnent year.
Chapter6: Business Expenses
Section: Chapter Questions
Problem 22P
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Billy Bob Sanders is a solf-employed management consultant. He reports on the cash basis for tax pupposes. For the current year, he paid the following expenditures reated bo his consillnz burhess.
$12,000 business meals with clients; business was dscussed during the meals
$8,000 hotel oxponses while out of town on business
$3,000 Houston Astros season tickets; took clients to the games and butiness was discussed diring the ganes
$4,000 continuing education fees
$5,000 country club dues; country dub is used for business pruposes:
From these expenditures, calculate the todal deduction amount that Baly Bob can tike against tis consuling inoome toc the curnent year.
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT