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Michael ( a regional manager at D&M Co . ) and Holly ( a part - time HR representative ) are married and live in
Michael a regional manager at D&M Co and Holly a parttime HR representative are married and live in New Jersey with their son Dwight. Michael has cancer and his physician, Dr Halpert, recommends Holly attend a conference at a renowned clinic in Chicago, Illinois that teaches caregivers how to take better care of their loved ones with the illness. Holly takes the physician's advice and flies to Chicago for the conference, which is days. Holly incurs the following expenses and uses some of her savings and inheritance to cover these costs: airfare $ meals $ per day hotel $ per day and fees to register for the conference $ A prominent speaker at the conference, Toby, encouraged caregivers to travel with their patients to warmer climates where the change in scenery can improve their morale and overall wellbeing. Both Holly and Michael have always wanted to visit the Caribbean and dream of escaping to its beaches and pristine waters. Holly returns from the conference and immediately schedules a threemonth trip to the Cayman Islands for Michael and herself to enjoy the warm weather and bask in the sunshine. A week into the trip unbeknownst to Michael his father, Oscar, and good friends Daryl, Meredith and Jo arrive and stay with the couple for a few weeks. Moreover, Holly is way over due for a new vehicle her current car is years old She has heard many great things about plugin electric vehicles and is considering purchasing one eg a Tesla rather than a standard car. She is wondering if there are tax benefits to purchasing an electric vehicle and if there is any difference for tax purposes between a brand new EV or a preowned EV Holly and Michael's adjusted gross income AGI is $ Although Michael and Holly have indepth knowledge about paper and office supplies, they are unfamiliar with the tax implications of the above transactions and have asked for your help. Required Holly and Michael file married filing jointly tax returns and have hired you to determine: Whether the taxpayers can deduct as medical expenses any of the expenses for a Holly's conference in Chicago and b Michael and Holly's trip to the Cayman Islands? Include in your analysis the amount of the deduction, if any. Whether there are tax benefits to purchasing a brand new or preowned plugin electric vehicle? Make sure to analyze both sides of the argumentseg analyze cases that are for and against your client's tax position PLEASE PROVIDE PRIMARY DOCUMENTS THAT APPLY. WILL THUMBS UP PLEASE
Michael a regional manager at D&M Co and Holly a parttime HR representative are
married and live in New Jersey with their son Dwight. Michael has cancer and his
physician, Dr Halpert, recommends Holly attend a conference at a renowned clinic in
Chicago, Illinois that teaches caregivers how to take better care of their loved ones with
the illness. Holly takes the physician's advice and flies to Chicago for the conference,
which is days. Holly incurs the following expenses and uses some of her savings and
inheritance to cover these costs: airfare $ meals $ per day hotel $ per
day and fees to register for the conference $ A prominent speaker at the
conference, Toby, encouraged caregivers to travel with their patients to warmer
climates where the change in scenery can improve their morale and overall wellbeing.
Both Holly and Michael have always wanted to visit the Caribbean and dream of
escaping to its beaches and pristine waters. Holly returns from the conference and
immediately schedules a threemonth trip to the Cayman Islands for Michael and herself
to enjoy the warm weather and bask in the sunshine. A week into the trip unbeknownst
to Michael his father, Oscar, and good friends Daryl, Meredith and Jo arrive and stay
with the couple for a few weeks.
Moreover, Holly is way over due for a new vehicle her current car is years old She
has heard many great things about plugin electric vehicles and is considering
purchasing one eg a Tesla rather than a standard car. She is wondering if there are
tax benefits to purchasing an electric vehicle and if there is any difference for tax
purposes between a brand new EV or a preowned EV
Holly and Michael's adjusted gross income AGI is $ Although Michael and
Holly have indepth knowledge about paper and office supplies, they are unfamiliar with
the tax implications of the above transactions and have asked for your help.
Required
Holly and Michael file married filing jointly tax returns and have hired you to determine:
Whether the taxpayers can deduct as medical expenses any of the expenses for
a Holly's conference in Chicago and b Michael and Holly's trip to the Cayman
Islands? Include in your analysis the amount of the deduction, if any.
Whether there are tax benefits to purchasing a brand new or preowned plugin
electric vehicle?
Make sure to analyze both sides of the argumentseg analyze cases that are for
and against your client's tax position PLEASE PROVIDE PRIMARY DOCUMENTS THAT APPLY. WILL THUMBS UP PLEASE
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