Question: Question Completion Status: Question 2 1 points SA John secured employment as a commissioned salesman in July, 2021. In 2021, he received a base

Question Completion Status: Question 2 1 points SA John secured employment as

Question Completion Status: Question 2 1 points SA John secured employment as a commissioned salesman in July, 2021. In 2021, he received a base salary of $60,000, and $5,000 of commissions. A further $6,000 of commissions earned in December was paid to him in January, 2022 John worked away from the office negotiating sales contracts, and he is required to pay his own vehicle and promotional expenses. His employer has signed a Form 12200 certifying that requirement, and certifying that no reimbursements are paid for any expenses john incurs to earn commissions. John incurred the following costs from july through December 2021 Meats and entertainment for potential customers Driving costs (90% of driving was for employment purposes) Fuel 4,000 Insurance 750 Repairs 2,250 Total Leasing costs (05500 per month 7,000 $14,000 What is the maximum deduction john may claim for employment expenses in 2021 $5,000 $9,000 $11,000. $16,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!