Homework Answers
Calculation of actual vehicle expenses of Solomon:
Actual vehicle expenses includes
a. gas $2453
b.Oil changes $320
c.Insuarance $900
d.Tolls and parking $98
e.personal property tax paid on business portion $106
Total actual maintenance expenese $3877
(a+b+c+d+e)
Note: Parking ticket does not include in actual maintenance expenses since it is a fine.
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50 $1,600 $2.288 $3,041 Mark for follow up Question 71 of 75 Calculate actual vehicle expenses...
calculate actual vehicle expenses for Salomon, a small business owner whose income is reported on Schedule...
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income tax question Juan should estimate his total vehicle expenses for the year, then WUULI UN...
income tax question
Juan should estimate his total vehicle expenses for the year, then WUULI UN UFU Juan could have leased a comparable vehicle for $3,600 for 2018. Therefore, he should deduct $3,600 as a business expense Juan can only deduct his vehicle expenses if an attempt is made to reconstruct his records. If the records reconstructed then Juan should not claim any vehicle expenses. Mark for follow up Question 11 of 75. A business may elect to deduct a...
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Mark for follow up Question 21 of 75. Which of the following items are NOT listed property? OAirplane, bus, Lyft vehicle mataorcycle, taxi, tran Uber vehicle Computer used exclusively in a regular place of business that was placed in service on July 27, 2018. Photographic, phonographic, communication and video recording equipment Computer used exclusively in a regular place of business that was placed in service on January 12, 2017 Mark for follow up S5,000 Mark for follow up Question 21...
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income tax question
Juan should estimate his total vehicle expenses for the year, then WUULI UN UFU Juan could have leased a comparable vehicle for $3,600 for 2018. Therefore, he should deduct $3,600 as a business expense Juan can only deduct his vehicle expenses if an attempt is made to reconstruct his records. If the records reconstructed then Juan should not claim any vehicle expenses. Mark for follow up Question 11 of 75. A business may elect to deduct a...
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