The maximum business expense deduction for gifts to customers and clients is: a. $4. b. $10. c. $25. d. $50. e. No maximum amount exists. Which of the income item is treated as earnings from self-employment? a. Capital gain from the sale of an investment b. Dividends C. Compensation received by a registered nurse who is hired by a patient to provide private nursing services d. Compensation received by a babysitter who provides childcare in the parent's home e. All of the above are earnings from self-employment A sole proprietor attends a sporting event with two of her clients. Each ticket costs $110. If the sole proprietor pays $330 for all three tickets the amount that she can deduct is: a. $75. b. $110. c. $165. d. $220. e. $330. Travel expenses must be incurred by a taxpayer while away from home. To the IRS, the term "away from home" means: a. Away from home for a 24-hour period b. Away from home temporarily c. Away from home overnight d. Away from home for a reasonable period of time An example of an expense not allowed as a deduction under Code Sec. 162(a) would be: a. a speeding ticket. b. an expense incurred while operating an illegal gambling business. c. a government imposed penalty. d. both a and c. e. all of the above