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Please answer all questions. 15. Paris operates a talent agency as a sole proprietorship, and this year she incurred the following expenses in operating her

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15. Paris operates a talent agency as a sole proprietorship, and this year she incurred the following expenses in operating her talent agenoy the total deductible amount of these expenditures? What is $1,000 dinner with a film producer where no business was $500 lunch with sister Nicky where no business $700 business dinner with a client (oops!) $900 ticke was discussed but Paris forgot to keep any records ts to the opera with a client following a business meeting A) $450. B) $900 C) $1,100. D) $1,200 E) $0 16. According to the Internal Revenue Code 162, deductible trade or business expenses must be one of the following? A) Incurred for the production of investment income B) Ordinary and necessary C) Minimized D) Appropriate and measurable E) Personal and justifiable 17. Individual proprietors report their business income and deductions on A) Form 1065 B) Form 1120S. C) Schedule C. D) Schedule A. E) Form 1041. 18.Which of the following tax credits is fully refundable? A) American opportunity credit B) Dependent care credit. C) Earned income credit D) None of the choices are correct. income 19. Which of the following does not affect the amount of the earned credit? A) Filing status B) Amount of credit taken in previous years. C) Number of qualifying children. D) Taxpayer's AGI

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