Question
The IRS allows an individual to deduct business expenses in the following way: $0.45 per mile driven, 50% of entertainment costs, and 100% of actual
The IRS allows an individual to deduct business expenses in the following way: $0.45 per mile driven, 50% of entertainment costs, and 100% of actual expenses. Represent these deductions in the given order as a row matrix A. In 2006, Jamie had the following business expenses: $2700 in entertainment, $15,200 actual expenses, and he drove 7523 miles. Represent Jamie’s expenses in the given order as a column matrix B. Multiply these two matrices to find the total amount of business expenses Jamie can claim on his 2006 federal tax form: AB.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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