John purchased a car on February $1$ of the current year for $$44,000.$ He uses the car for both business and personal purposes. Mileage logs indicate that John put $40,000$ miles on the car this year. Of that total, $28,000$ miles were business related and the remaining $12,000$ were related to personal travel. John wants to deduct the maximum amount allowable for business use of his car.John also purchased office equipment, computers and other five$-$year property for use in the business. He purchased $$625,000$ worth of such depreciable assets in March.He wants to deduct the maximum amount allowable under Code Sec. $179$ and depreciate the remaining cost $($if any$)$ using bonus and MACRS depreciation.Selling expenses include $$6,000$ spent for business meals incurred on John's sales calls during the year.Selling expenses also include $$12,000$ in illegal payments to city officials paid to secure a lucrative contract with the city.John was uncomfortable making this payment, but reasoned that the contract was important to get his business off to a good start.Selling expenses also include gasoline, parking fees, and other documented auto expenses totaling $$2,500$ attributable to John's sales calls. Assume that John reports the revenue and expenses of Stantus Accounting Services on$.$Schedule C$,$ that he uses the cash method of accounting, and that he has no other taxable income, deductions or credits other than the items listed above. As noted above, he is single, with no dependents. He lives at$105$ Ist Street in Jackson, Mississippi $($zipcode $=39201).$ His social security numberis $555-33-4444.$ His business address is $50119$th Street, Jackson, MS $39201.$ Skipping Schedule SE $($on which you would ordinarily calculate the self$-$employment tax$),$ prepare John's $2023$ Individual Income Tax Return.Ignore the new Sec. $199$A deduction $($discussed in a later chapter$).$ Note: you may have to use $2022$ forms. Research Prate me$.$ phe following elecas court cases have helped to shape the tax law in regard to allowable trade or busines rax deductions. Read the following cout cases and prepare a brief written abstrac for each case$\mathrm{.}01$us a$.$New Colonial Ice Co$.,4$ UsTC $11292,292$ U$.$S$.435.$b$.$T$.$H$.$ Welch v$.$ Helvering, $3$ USTC $11164,290$ U$.$S$.111\mathrm{.}55.$ Research Problem. Prepare a brief written abstract for each of the following additional selected court cases relating to allowable trade or business deductions.A$.$ Trujillo, $68$ TC $670,$ Dec. $34,554.$Illinois Terminal Railroad Co$.,67-1$ UsTC $19374,179$ Ct$.$ Cls$.674,375$ F$\mathrm{.}2$d $1016($Ct$.$ Cls$.1967).$C$.$I.R$.$ Wharton, $53-2$ USTC $19597,207$F$\mathrm{.}2$d $526($CA$-51953).$