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! Required information (The following information applies to the questions displayed below.) Ryan is self-employed. This year Ryan used his personal auto for several long
! Required information (The following information applies to the questions displayed below.) Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $2,010 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $4,500. During the year, he drove his car a total of 16,400 miles (a combination of business and personal travel). (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) a. Ryan can provide written documentation of the business purpose for trips totaling 6,560 miles. What business expense amount can Ryan deduct (if any) for these trips? Maximum deductible amount Required information [The following information applies to the questions displayed below.] Christopher is a self-employed cash-method, calendar-year taxpayer, and he made the following cash payments related to his business this year. Calculate the after-tax cost of each payment assuming Christopher has a 37 percent marginal tax rate. (Do not round intermediate calculations and round your final answer to the nearest whole dollar amount.) 5 b. $3,100 of interest on a short-term loan incurred in September and repaid in November. Half of the loan proceeds was used immediately to pay salaries and the other half was invested in municipal bonds until November. After-tax cost Required information {The following information applies to the questions displayed below.] Melissa recently paid $770 for round-trip airfare to San Francisco to attend a business conference for three days. Melissa also paid the following expenses: $715 fee to register for the conference, $355 per night for three nights' lodging, $200 for meals in restaurants, and $310 for cab fare. (Do not round intermediate calculations, Round your final answers to the nearest whole dollar amount. Leave no answers blank. Enter zero if applicable.) a. What amount of these costs can Melissa deduct as business expenses? Deductible amount
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