Your client is a real estate agent who was audited two years ago by the IRS. During
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Question:
You are surprised that this year his sheet says that he drove 32,000 business miles out of a total of 35,000 total miles, even though the real estate market was slow and his income was down 50%. In addition, he brought a program from a real estate convention in Miami and another spreadsheet with the costs incurred, including airfare, hotel, and meals.
Keeping in mind that your client was audited and unable to substantiate the expenses in the audit, you ask if his records are better, and he says, "Of course." When you ask how they differ, he winks and says that he is "smarter" now.
1) How would you handle this situation?
2) Would the auto бdeduction make a difference if he owned three cars?
Related Book For
Advanced Financial Accounting
ISBN: 978-0137030385
6th edition
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
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