Sammie, a self-employed musician, takes a trip from California to New York. She spends two days...
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Sammie, a self-employed musician, takes a trip from California to New York. She spends two days travelling, 15 days sightseeing, and while she was there, she stopped in to have lunch with a client. Her airfare was $750 to New York and $700 returning to California. How much of the airfare is deductible? Joshua purchases and places in service property costing $3,200,000. He elects the maximum Sec. 179 deduction, but does not take additional first year depreciation. His business income is $250,000. What is the amount of his allowable Sec. 179 carryover? Sammie, a self-employed musician, takes a trip from California to New York. She spends two days travelling, 15 days sightseeing, and while she was there, she stopped in to have lunch with a client. Her airfare was $750 to New York and $700 returning to California. How much of the airfare is deductible? Joshua purchases and places in service property costing $3,200,000. He elects the maximum Sec. 179 deduction, but does not take additional first year depreciation. His business income is $250,000. What is the amount of his allowable Sec. 179 carryover?
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Sammies Deductible Airfare Sammie is a selfemployed musician so her airfare expenses can potentially be deductible as business travel expenses To dete... View the full answer
Related Book For
Managerial Economics and Business Strategy
ISBN: 978-0071267441
7th Edition
Authors: Michael R. baye
Posted Date:
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