Gary is a self-employed accountant who pay $2,000 for business meals. How much of a deduction can

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Gary is a self-employed accountant who pay $2,000 for business meals. How much of a deduction can he claim for the meals and where should the deduction be claimed?

a. 50 percent, miscellaneous itemized deduction

b. 50 percent, Schedule C deduction

c. 100 percent, miscellaneous itemized deduction

d. 100 percent, Schedule C deduction

Related Book For answer-question

Canadian Income Taxation planning and decision making

ISBN: 9781259094330

17th edition 2014-2015 version

Authors: Joan Kitunen, William Buckwold

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Posted Date: Aug 26, 2020 01:16 AM

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Gary is a self-employed accountant who pay $2,000 for business meals. How much of a deduction can

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Answer 50 Schedule C deduction Explanation Qualified business expenses has ... View the full answer

Canadian Income Taxation planning and decision making

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