Joan is a self-employed attorney in New York City. Joan took a trip to San Diego, CA, primarily for business, to consult with a client andtake a short vacation. On the trip, Joan incurred the following expenses:Airfare to and from San DiegoHotel charges while on businessRestaurant meals while on businessCar rental while on businessHotel charges while on vacationRestaurant meals while on vacationCar rental while on vacationTotal$ 67550022090700242180$2,607Calculate Joan's travel expense deduction for the trip, assuming the trip was made in 2022.1,406 X

Answer:- Business trips are those that an individual takes in connection with managing a business…

Answered: Joan is a self-employed attorney in New…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Melissa recently paid $760 for round trip airfare to San Francisco to attend a business conference for three days. Melissa also put the following expenses: $370 fee to register for the conference, $365 per night for three nights' lodging, $250 for meals and $300 for can fare. Suppose that San Francisco was Melissa permanent residence and business location. She attended the conference in San Francisco and paid $370 for the registration fee. She drove 153 miles over the course of theee days and paid $190 for parking at the conference hotel. In addition, she spent $430 for breakfast and dinner over the three days of the conference. She bought breakfast on the way to the conference hotel, and she bought dinner on her way home each night from the conference. What amount of these costs can Melissa deduct as business expenses?
Jimmy took a business trip from Dallas to Brazll. He was there for a total of seven days, of which two were weekend days. Over the weekend, he spent his time sightseeing and relaxing. His expenses were as follows: Airfare Lodging (7 days x $300) Meals (7 days) Taxi fares ($600 to and from business meetings) How much is Jimmy allowed to deduct? Multiple Choice O O $3,404 $3,496 $4,598 $4,895 $1,400 2,100 595 800
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