LO.3, 4 Elvis is a salesman who works for Crane Sales, Inc. Typically, Elvis spends several days

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LO.3, 4 Elvis is a salesman who works for Crane Sales, Inc. Typically, Elvis spends several days out of town each week. Crane provides Elvis with a travel allowance of $1,100 per month, but requires no accountability. For the current year, Elvis had the following jobrelated travel expenses:

Meals $ 5,040 Lodging 10,080 Transportation 1,400

a. What amount qualifies as a deductible travel expense?

b. What is the classification of any such deduction?

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South Western Federal Taxation 2011 Taxation Of Business Entities

ISBN: 9780538498616

14th Edition

Authors: James E. Smith, William A. Raabe, David M. Maloney

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