Chapter 7 Question 20. Schedule C. (Obj. 3) Robert works as a cost accountant. He also works nights and weekends preparing tax returns for some regular clients. He does not have a regular office in his home so he does not take a deduction for a home office. However, he prepares Schedule Cto report the income from his tax practice. Robert has asked you to review his Schedule C to determine whether he is properly reporting the operating expenses of his business in relation to other aspects of his return. Robert has included the following expenses on Schedule C. Supplies and postage Professional dues paid to AICPA tax division Professional dues to the Institute of Management Accountants (IMA) Meals ($80) and entertainment ($120) of tax clients 662 Automobile expenses for tax clients (using the standard mileage rate). Contribution to New York State Society's Political Action Committee noge rate) CPE course fees to meet the annual requirements to be a member of the AICPA and the New York State Society of CPAS Cost of new printer for use with tax clients (shown as a repair Interest paid on bank loan used to buy computer for tax and personal use (used for tax clients 60% of the time during the year) of those expenses, indicate what amounts, if any, cannot be deducted on Schedule C and explain why in each case