Sam owns an insurance agency and makes the following business gifts during the year. Calculate Sams deduction
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Amount Donee Ms. Sears (a client) Mr. Williams (a tennis partner, not a Amotun Allowed $35, plus S4 shipping S business prospect or client) Mr. Sample (a client) Mrs. Sample (nonclient wife of 20 Mr. Sample) Various customers (calendars 300 costing $3 each with the company name on them) Mr. Shiver (an employee gift, a 175 watch, for 25 years of continuous service) Total business gift deduction
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Donee Amount Allowed Ms Sears 29 Mr Williams 0 Mr and Mrs Sample 25 Calenda...View the full answer
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Related Book For
Income Tax Fundamentals 2015
ISBN: 9781305177772
33rd Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
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