Needing continuing education hours to renew your CPA license, you, a sensible person, decide to combine business and pleasure. So you find a tax conference in Miami and buy a round-trip ticket for $400. The conference is Tuesday-Friday. Bright and early on Saturday morning you hop into your rental car and drive down the “Overseas Highway” to Key West, where you party and stay over. On Sunday afternoon you reluctantly return to Miami and fly home. How much, if any, of your airfare is deductible, and why?
Needing continuing education hours to renew your CPA license, you, a sensible person, decide to combine business and pleasure. So you find a tax conference in Miami and buy a round-trip ticket for $400. The conference is Tuesday-Friday. Bright and early on Saturday morning you hop into your rental car and drive down the “Overseas Highway” to Key West, where you party and stay over. On Sunday afternoon you reluctantly return to Miami and fly home. How much, if any, of your airfare is deductible, and why?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Needing continuing education hours to renew your CPA license, you, a sensible person, decide to combine business and pleasure. So you find a tax conference in Miami and buy a round-trip ticket for $400. The conference is Tuesday-Friday. Bright and early on Saturday morning you hop into your rental car and drive down the “Overseas Highway” to Key West, where you party and stay over. On Sunday afternoon you reluctantly return to Miami and fly home.
How much, if any, of your airfare is deductible, and why?
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