Question

16. Which of the following is not deductible by the self-employed taxpayer? a. A subscription to The CPA Journal by a CPA b.
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Answer:

16. e. All of the above are deductible

A subscription to the The CPA Journal by a CPA,a subscription to The Yale medical journal by a doctor,a subscription to Financial management by a financial planner,a subscription to The Harvard law review by a lawyer these are all deductible by the self employed taxpayer.

Note: Doctors, lawyers, accountant, engineers,teachers and other professionals engaged In practice or employed may Deduct certain expenses.

Add a comment
Know the answer?
Add Answer to:
16. Which of the following is not deductible by the self-employed taxpayer? a. A subscription to...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Which of the following is not deductible by the self-employed taxpayer? a.A subscription to The Harvard...

    Which of the following is not deductible by the self-employed taxpayer? a.A subscription to The Harvard Law Review by a lawyer. b.A subscription to The Yale Medical Journal by a doctor. c.A subscription to Financial Management by a financial planner. d.A subscription to The CPA Journal by a CPA. e.All of these choices are deductible. Which of the following expenses is deductible as an entertainment expense? a.The cost of a paintball party for clients paid for by a computer salesman...

  • Which of the following would be a deductible business expense under IRC sec 162? a. $...

    Which of the following would be a deductible business expense under IRC sec 162? a. $ 30,000 in office rent paid on office for a self-employed business. b. $ 750,000 paid to a corporate president / shareholder. $ 400,000 is what a typical salary would be. c. $ 900 in political contributions to a politician. d. $ 100 in a fine for the office sprinkler system not up to local code. e. $ 500 in continuing education costs for a...

  • Which of the following does not give rise to a business expense for self-employed taxpayer's uniforms...

    Which of the following does not give rise to a business expense for self-employed taxpayer's uniforms or special clothing? a. A scientist buys his hazmat suit. b. A lawyer buys a business suit. c. A mascot buys his costume. d. A clown buys his costume e. All of these choices are deductible.

  • Which of the following does not give rise to a business expense for self-employed taxpayer's uniforms...

    Which of the following does not give rise to a business expense for self-employed taxpayer's uniforms or special clothing? a. A scientist buys his hazmat suit. b. A lawyer buys a business suit. c. A mascot buys his costume. d. A clown buys his costume e. All of these choices are deductible.

  • Which of the following is deductible as dues, subscriptions, or publications? a. Dues to the drama...

    Which of the following is deductible as dues, subscriptions, or publications? a. Dues to the drama club for a student D. Subscription to the "Journal of Taxation" for a tax attorney c. Dues to a health club for a doctor d. Subscription to "Vogue" magazine for a corporate president e. None of these choices are correct.

  • 1- Which of the following is a unique provision of a Keogh (self-employed) plan? a-For Keogh...

    1- Which of the following is a unique provision of a Keogh (self-employed) plan? a-For Keogh profit-sharing plans, there is a promised benefit available to a common-law employee. b-A Keogh is required to be adopted as a defined contribution plan. c-A Keogh plan may only cover the self-employed owner-employee. d-The deduction available for an owner-employee of the business is based on a specified definition of net income. 2-Kelly operates a business as a sole proprietor and maintains a Keogh profit-sharing...

  • Required information [The following information applies to the questions displayed below.] Kimberly is a self-employed taxpayer....

    Required information [The following information applies to the questions displayed below.] Kimberly is a self-employed taxpayer. She recently spent $1,800 for airfare to travel to Italy. What amount of the airfare is deductible in each of the following alternative scenarios? (Leave no answers blank. Enter zero if applicable.) c. On the trip, she spent six days on business activities and four day(s) on personal activities. Deductible amount < Prev 11 12 of 23 Next > ere to search O Pie...

  • The tax benefit for health insurance premiums paid by a self-employed taxpayer is reported on their...

    The tax benefit for health insurance premiums paid by a self-employed taxpayer is reported on their return as a a) self-employed health insurance deduction on Schedule 1 that carries to page 2 of Form 1040 b) Premium tax credit on Form 8962 that carries to page 2 of Form 1040 c) medical and dental expense on Schedule A that carries to page 2 of Form 1040 d) Employee benefit programs on Schedule C. The net profit or loss from Schedule...

  • Which of the following expenses, if any qualify as deductible in 2018? a. Contribution to a...

    Which of the following expenses, if any qualify as deductible in 2018? a. Contribution to a Roth IRA. b. Costs involved in maintaining an office in the home by a self-employed insurance adjuster. Taxpayer's wife also uses the office as a meeting place for her bridge club.c. Cost of moving to first job location. Taxpayer just graduated from college. d. Job hunting expenses of a fishing guide to become an insurance salesman. e. None of the above. (The answer IS...

  • 1. Sue is a self-employed. Her net profit from the self-employment in 2018 is $150,000. What’s...

    1. Sue is a self-employed. Her net profit from the self-employment in 2018 is $150,000. What’s her deductible portion of SE tax on line 27 of Schedule 1? a) $11,475 b) $10,597 c) $ 9,969 d) $ 9,823 2. Young is single and self-employed. His net profit from the business is $100,000. His SE tax on Schedule SE is $14,130. He contributed $6,000 to his self-employed SEP IRA account. He also paid $7,800 self-employed health insurance premium in 2018. What...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT