which of the following may a military taxpayer deduct if they do not itemize uniform expenses...
which of the following may a military taxpayer deduct if they do not itemize
uniform expenses
mortgage intrest expenses
travel cost for reserve duty
all of the above
Homework Answers
Answer:
Option C is the correct answer i.e. travel cost for reserve duty.
Members of the Armed Forces on active duty who move pursuant to a military order and incident to a permanent change of station may deduct their moving and storage expenses if they do not itemize.
Add Answer to:
which of the following may a military taxpayer deduct if they do
not itemize
uniform expenses...
Question 56 of 100 active military taxpayer may NOT deduct which of the following moving expert...
Question 56 of 100 active military taxpayer may NOT deduct which of the following moving expert Amount paid a moving company to transport matchange Lodging for their family for one day if they could no longer live in their old homo y ey could no longer live in their cld home, on the way and until tvary anive Standard mileage rate for the vehicle s h ould be Storage changes that extend beyond the lowe 30 day period Mark for...
which of the following requirements is not necessary for an active duty US military taxpayer to...
which of the following requirements is not necessary for an active duty US military taxpayer to receive an automatic two month extension of the time to file a US individual income tax return? The taxpayer which of the following? - is deployed to a combat zone. - works outside the US and Puerto Rico and their main place of business or post of duty is outside the US and Puerto Rico. - is in military or Nabel service on an...
Which of the following best describes the requirements for a self-employed taxpayer to deduct expenses related...
Which of the following best describes the requirements for a self-employed taxpayer to deduct expenses related to a home office on Schedule C? The office must be accessible to the public through a separate entrance. The office must contribute substantially to the profitability of the business. The office must be used exclusively and regularly for purposes related the taxpayer's business. The use of a separate office must be a generally accepted practice in the particular field that the business is...
which of the following is not required for an accrual method taxpayer to currently deduct the...
which of the following is not required for an accrual method taxpayer to currently deduct the cost of services received? A) the loability must be paid B) the existence of a liability must be established C) the amount of the liability is determined with reasonable accuracy D) the servicea must actually be provided
1) Which of the following is NEVER deductible on Schedule A? A) Home mortgage interest paid...
1) Which of the following is NEVER deductible on Schedule A? A) Home mortgage interest paid on a second home. B) Interest paid on money borrowed to buy stock for an investment portfolio. C) "Points" paid in advance at the time of securing a mortgage for a taxpayer's main residence. D) Credit card interest paid on personal purchases 2) A self-employed taxpayer may be eligible to deduct amounts paid for medical insurance for themselves and for their families. To claim...
Please help......Thank you.... Which of the following statements is incorrect? a. A taxpayer may use the...
Please help......Thank you....
Which of the following statements is incorrect? a. A taxpayer may use the standard mileage rate for use of a personal vehicle for charitable purposes. X b. The standard mileage rate for charitable use is increased to 16 cents per mile in 2019 OOC c. A taxpayer may choose to claim actual expenses instead of the standard mileage rate d. A taxpayer may deduct parking fees and tolls whether the actual expenses or standard mileage rate is...
Fabian, a single, member of the military, was stationed at White Sands, New Mexico. On July...
Fabian, a single, member of the military, was stationed at White Sands, New Mexico. On July 1, 2018, his army company transferred him to Florida as a permanent duty station. Fabian worked full time for the entire year. During 2018, he incurred and paid the following expenses related to the move: Pre-move house hunting costs $ 1,425 Lodging and travel expenses (not meals) while moving 2,400 Cost of moving furniture and personal belongings 3,325 He did not receive reimbursement for...
Question 63 of 75. Yolanda (41), a freelance photographer, reports a net profit of $50,000 on...
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47. Which of the following statements regarding Social Security are CORRECT? 1. Self-employed individuals may deduct...
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Dennis, the owner of Dennis Company, incurs the following expenses while away from home on a...
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Question 56 of 100 active military taxpayer may NOT deduct which of the following moving expert Amount paid a moving company to transport matchange Lodging for their family for one day if they could no longer live in their old homo y ey could no longer live in their cld home, on the way and until tvary anive Standard mileage rate for the vehicle s h ould be Storage changes that extend beyond the lowe 30 day period Mark for...
Please help......Thank you....
Which of the following statements is incorrect? a. A taxpayer may use the standard mileage rate for use of a personal vehicle for charitable purposes. X b. The standard mileage rate for charitable use is increased to 16 cents per mile in 2019 OOC c. A taxpayer may choose to claim actual expenses instead of the standard mileage rate d. A taxpayer may deduct parking fees and tolls whether the actual expenses or standard mileage rate is...
Question 63 of 75. Yolanda (41), a freelance photographer, reports a net profit of $50,000 on Schedule C, Profit or Loss from Business. This is her only income. How much is Yolanda's self-employment tax? $3,825 $7,065 $7,650 O $11,000 Question 65 of 75. A self-employed taxpayer may be eligible to deduct amounts paid for medical insurance for themselves and for their families. To claim this deduction, a qualifying taxpayer should: Claim a nonrefundable tax credit based on the cost of...
47. Which of the following statements regarding Social Security are CORRECT? 1. Self-employed individuals may deduct the 100% payroll tax paid on their net Schedule C income as an above-the-line deduction from adjusted gross income. 2. Medicare taxes are 2.9% of an employee's compensation (paid half by the employer and half by the employee) with no ceiling (not including the Additional Medicare Tax). 3. Workers who are not covered by Social Security and do not pay into the system may...
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