Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

how can I calculate this? do I include the whole 12,000 or only part of it ? help to solve this question * Other expenses:

image text in transcribed

how can I calculate this? do I include the whole 12,000 or only part of it ? help to solve this question

* Other expenses: Legal fees for business conflict resolution Indused Political contributions to local organization Not $10,000 $ 3,000 Home office expenses (John is using one of his rooms for home office where he exclusively is meeting with clients and conducts relating administrative and managerial tasks) $12,000 r Travel expenses (John spent 5 days at the travel destination taking care of his consulting business and 3 days for pleasure), Airfare $1,600 $ Meals - $50 per day 7+2 - $100/2 = $50 Lunches and dinners with customers to discuss business Continuing education to retain John's license $4,600 $ 800 in or loss (short term or

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Independent Review For Banks The Complete BSA AML Audit Workbook

Authors: Howard Steiner, Stephen L. Marini

1st Edition

0615237908, 978-0615237909

More Books

Students also viewed these Accounting questions