Question
For the current year, Horton was self-employed as a CPA. He had the following expenses: Attendance at a tax law conference ($900 for travel and
For the current year, Horton was self-employed as a CPA. He had the following expenses:
Attendance at a tax law conference ($900 for travel and $200 for meals): $1,100
Continuing Education for CPA license renewal: $1,000
Professional dues and journals: $400
Contribution to a local congressional reelection campaign (highly recommended by the AICPA): $400
Calculate how much of these expenses are allowed as deductions for AGI (after limitations)?
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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
17th edition
978-0273778172, 027377817X, 978-1292080505
