Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Brianna is the sole proprietor of her business. In Y1, she incurred the transportation costs below on her business and personal use vehicle. The percentage
Brianna is the sole proprietor of her business. In Y1, she incurred the transportation costs below on her business and personal use vehicle. The percentage of her total miles that are business miles are 60%. Her total miles in Y1 is 18,000 miles.The mileage rate is 65.5 cents. Assuming Brianna's preferred method is actual cost. How much of the expenses can Brianna deduct in Y1? Vehicle Repairs $450 (60%) Gas $2,000 (60%) Insurance $1,200 (60%) Registration $120 (60%) Garage parking at office building $800 (100%) Tolls while on business trips $500 (100%)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started