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PLease show work and explain. Problem 6-51 (LO 6-3, 6-4) Jose purchased a vehicle for business and personal use. In 2019, he used the vehicle
PLease show work and explain.
Problem 6-51 (LO 6-3, 6-4) Jose purchased a vehicle for business and personal use. In 2019, he used the vehicle 18,000 miles (80% of total) for business and calculated his vehicle expenses using the standard mileage rate (mileage was incurred ratably throughout the year). He paid $1,400 in interest and $150 in property taxes on the car. Required: Calculate the total business deduction related to the car: Total Deduction Schedule C $ 10,960 9,630 Schedule A $ Jordan took a business trip from New York to Denver. She spent two days in travel, conducted business for nine days, and visited friends for five days. She incurred the following expenses: Airfare Lodging Meals Entertainment of clients $ 550 3,000 900 750 Required: How much of these expenses can Jordan deduct? (Do not round intermediate calculations. Round your final answer to the nearest whole dollar value.) Deduction $ 3,297 In 2019, Landon has self-employment earnings of $195,000. Required: Compute Landon's self-employment tax liability and the allowable income tax deduction of the self-employment tax paid. (Round your intermediate computations and final answers to the nearest whole dollar value.) $ 15,987 Total self-employment tax liability Self-employment tax deduction $ 15,990Step by Step Solution
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