Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Chang is self employed and travels to New Orleans for a business conference. The following information is related to this trip. QQUIRED: ( 1 )
Chang is self employed and travels to New Orleans for a business conference. The following information is related to this trip. QQUIRED: ( 1 ) (2) If Chang spends four (4) days sightseeing and two (2) days at the conference, what amount may he deduct as travel expense? Show appropriate calculations to support your answer. (3) Assume that, next year, Chang would like his wife Yang, who does not work outside their home, to go with him to the conference. Yang's expenses would be similar to Chang's except that the hotel room rate for double occupancy is $150 per night. Yang would probably attend 1 or 2 sessions and the receptions at night. What portion of her expenses can they deduct? Show appropriate calculations to support your answer. If Chang spends four (4) days at the conference and two (2) days sightseeing, what amount may he deduct as travel expense? Show appropriate calculations to support your answer. If Chang spends four (4) days sights travel expense? Show appropriate Assume that, next year, Chang would like his wife Yang, who does not work outside their home, to go with him to the conference. Yang's expenses would be similar to Chang's except that the hotel room rate for double occupancy is $150 per night. Yang would probably attend 1 or 2 sessions and the receptions at night. What portion of her expenses can they deduct? Show appropriate calculations to support your answer. \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ TAXPAYER CHANG } \\ & \multicolumn{2}{|c|}{ CALCULATION OF DEDUCTION FOR TRAVEL EXPENSE } \\ \multicolumn{1}{|c|}{ FOR WIFE YANG } \\ \hline FOR FOUR DAYS AT CONFERENCE AND TWO DAYS SIGHTSEEING \\ \hline Airfare & \\ \hline Hotel rate & \\ \hline Conference registration fee & \\ \hline Meals & \\ \hline Incidental expenses & \\ \hline Total Travel Expense Deduction & \\ \hline Explanation of above amounts & \\ & \\ & \\ & \end{tabular}
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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