Which of the following trips, if any, will qualify for the travel expense deduction Dr Jones, a self employed general dentist, attends a two day seminar on developing a dental practice Dr Brown, a self employed surgeon, attends a two day seminar on financial planning Paul, a romance language high school teacher, spends summer break in France, Portugal, and Spain improving his language skills Myrna went on a two week vacation in Boston While there, she visited her employers home office to have lunch with former coworkers All of these Hugh, a self employed individual, paid the following amounts during the year Real estate tax on Iowa residence $3,800 State income tax 1,700 Real estate taxes on a vacation home 2,100 Gift tax paid on gift to daughter 1,200 State sales taxes 1,750 State occupational license fee 300 Property tax on value of his automobile (used 100 for business) 475 What is the maximum amount Hugh can claim as taxes in itemizing deductions from AGI a $7,600 b $7,650 c $9,625 d $10,000 e None of these Which of the following is true regarding charitable contributions a) For 2021 cash donations, the charitable contribution is limited to 60 of AGI b)Unused charitable contributions can be carried forward 10 years c)Documentation and substantiation for a charitable contribution is only necessary on contributions in excess of $250 d)None of the above are true e)All of the above are true For regular income tax purposes, Linda, who is single, is in the 32 tax bracket Her TI is 500,000 Her AMT base is $420,000 Her tentative AMT is a $109,200 $113,602 $117,600 $140,000 None of the above Matt is single and his AMTI for 2021 is $600,000 His AMT exemption is $19,100 $54,500 $73,600 114,600 None of the above

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Which of the following trips, if any, will qualify for the travel expense deduction? Dr. Jones, a self-employed general dentist, attends a two-day seminar on

Which of the following trips, if any, will qualify for the travel expense deduction?
1. Dr. Jones, a self-employed general dentist, attends a two-day seminar on developing a dental practice.
2. Dr. Brown, a self-employed surgeon, attends a two-day seminar on financial planning.
3. Paul, a romance language high school teacher, spends summer break in France, Portugal, and Spain improving his language skills.
4. Myrna went on a two-week vacation in Boston. While there, she visited her employers home office to have lunch with former coworkers.
5. All of these.
Hugh, a self-employed individual, paid the following amounts during the year:
Real estate tax on Iowa residence $3,800

State income tax 1,700

Real estate taxes on a vacation home 2,100

Gift tax paid on gift to daughter 1,200

State sales taxes 1,750

State occupational license fee 300

Property tax on value of his automobile (used 100% for business) 475

What is the maximum amount Hugh can claim as taxes in itemizing deductions from AGI?

a. $7,600

b.$7,650

c.$9,625

d.$10,000

e.None of these
Which of the following is true regarding charitable contributions? a) For 2021 cash donations, the charitable contribution is limited to 60% of AGI b)Unused charitable contributions can be carried forward 10 years. c)Documentation and substantiation for a charitable contribution is only necessary on contributions in excess of $250. d)None of the above are true. e)All of the above are true.
For regular income tax purposes, Linda, who is single, is in the 32% tax bracket. Her TI is 500,000. Her AMT base is $420,000. Her tentative AMT is:

a. $109,200.
1. $113,602.
2. $117,600.
3. $140,000.
4. None of the above.
Matt is single and his AMTI for 2021 is $600,000. His AMT exemption is:
1. $19,100
2. $54,500
3. $73,600
4. 114,600
5. None of the above.