Question

Question

Bill is a CPA and operates a sole proprietorship providing tax and audit services. In May of 2018, Bill traveled from Minneapolis to Chicago and spent four days meeting with clients. While in Chicago, Bill decided to stay an extra two days visiting an old friend from college. During his six day trip, Bill incurred the following expenses:

·        Airfare $350

·        Hotel $750 ($125/night)

·        Meals $480 ($80/day)

·        Rental Car $180 ($30/Day)

How much of the above expenses qualify as deductible travel expenses?

Answer 1