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Amanda is self-employed and uses her personal...
Expenses are shown in the data table Allison is self-employed and uses her personal automobile in...
Expenses are shown in the data table
Allison is self-employed and uses her personal automobile in connection with her business. During 2019, Amelie drove her car a total of 22,000 miles. Her business log shows that she drove 19,800 miles for business purposes. During 2019, Amelie incurred the following actual expenses based on 100% use that is, 22,000 total miles: (The standard mileage rate method permits a deduction based on a mileage rate of 58 cents per mile for the...
Problem 3-6 Transportation (LO 3.3) Teresa is a civil engineer who uses her automobile for business....
Problem 3-6 Transportation (LO 3.3) Teresa is a civil engineer who uses her automobile for business. Teresa drove her automobile a total of 11,965 miles during 2019, of which 80% was business mileage. The actual cost of gasoline, oil, depreciation, repairs, and insurance for the year was $6,440. Teresa is eligible to use the actual or standard method. If required, round your answers to the nearest dollar. a. How much is Teresa's transportation deduction based on the standard mileage method?...
ransportation (LO 3.3) Teresa is a civil engineer who uses her automobile for business. Teresa drove...
ransportation (LO 3.3) Teresa is a civil engineer who uses her automobile for business. Teresa drove her automobile a total of 11,965 miles during 2019, of which 80% was business mileage. The actual cost of gasoline, oil, depreciation, repairs, and insurance for the year was $6,440. Teresa is eligible to use the actual or standard method. If required, round your answers to the nearest dollar. a. How much is Teresa's transportation deduction based on the standard mileage method? Meals and...
Lara uses the standard mileage method for determining auto expenses. During 2019, she used her car...
Lara uses the standard mileage method for determining auto expenses. During 2019, she used her car as follows: 17,000 miles for business, 3,400 miles for personal use, 5,100 miles for a move to a new job, 1,700 miles for charitable purposes, and 850 miles for medical visits. Presuming that all the mileage expenses are allowable (ie, not subject to percentage limitations), what is Lara's deduction for: If required, round your answers to the nearest dollar. a. Business? 9,180 X Feedback...
Problem 3-6 Transportation (LO 3.3) Teresa is a civil engineer who uses her automobile for business....
Problem 3-6 Transportation (LO 3.3) Teresa is a civil engineer who uses her automobile for business. Teresa drove her automobile a total of 11,965 miles during 2017, of which 80% was business mileage. The actual cost of gasoline, oil, depreciation, repairs, and insurance for the year was $6,440. If required, round your answers to the nearest dollar. a. How much is Teresa's transportation deduction based on the standard mileage method? $ b. How much is Teresa's transportation deduction based on...
Martha is a self-employed tax accountant who drives her car to visit clients on a regular...
Martha is a self-employed tax accountant who drives her car to visit clients on a regular basis. She drives her car 4,000 miles for business and 10,000 for commuting and other personal use. Assuming Martha uses the standard mileage method, how much is her deductible auto expense for the year? a. The deductible business auto expense is $ . b. Where in her tax return should Martha claim this deduction? The expense should be deducted on Martha's .
Question 23 of 45. Lawrence operates a consulting business. He uses his personal vehicle for both...
Question 23 of 45. Lawrence operates a consulting business. He uses his personal vehicle for both business and personal use. He purchased his Toyota Highlander on July 4, 2017. for $35,000. Lawrence immediately began using it for his business. He did not claim special (bonus) depreciation or a $179 deduction. He keeps a specific mileage log for his business use. His mileage records for 2018 indicate that he drove his car a total of 17,824 miles with 4,839 miles of...
During the year 2019, Ricki, who is not self-employed and does not receive employer reimbursement for...
During the year 2019, Ricki, who is not self-employed and does not receive employer reimbursement for business expenses, drove her car 5,200 miles to visit clients, 10.200 miles to get to her office, and 500 miles to attend business-related seminars. All of this mileage was incurred ratably throughout the year. She spent $330 for airfare to another business seminar and $210 for parking at her office. Using the automobile expense rates in effect for 2019, what is her deductible transportation...
Transportation (LO 3.3) Martha is a self-employed tax accountant who drives her car to visit clients...
Transportation (LO 3.3) Martha is a self-employed tax accountant who drives her car to visit clients on a regular basis. She drives her car 4,000 miles for business and 10,000 for commuting and other personal use. Assuming Martha uses the standard mileage method, how much is her deductible auto expense for the year? a. The deductible business auto expense is $ b. Where in her tax return should Martha claim this deduction? The expense should be deducted on Martha's Schedule...
During the year 2018, Ricki, who is not self-employed and does not receive employer reimbursement for...
During the year 2018, Ricki, who is not self-employed and does not receive employer reimbursement for business expenses, drove her car 5,800 miles to visit clients, 10,800 miles to get to her office, and 500 miles to attend business-related seminars. All of this mileage was incurred ratably throughout the year. She spent $420 for airfare to another business seminar and $240 for parking at her office. Using the automobile expense rates in effect for 2018, what is her deductible transportation...
Expenses are shown in the data table
Allison is self-employed and uses her personal automobile in connection with her business. During 2019, Amelie drove her car a total of 22,000 miles. Her business log shows that she drove 19,800 miles for business purposes. During 2019, Amelie incurred the following actual expenses based on 100% use that is, 22,000 total miles: (The standard mileage rate method permits a deduction based on a mileage rate of 58 cents per mile for the...
Problem 3-6 Transportation (LO 3.3) Teresa is a civil engineer who uses her automobile for business. Teresa drove her automobile a total of 11,965 miles during 2019, of which 80% was business mileage. The actual cost of gasoline, oil, depreciation, repairs, and insurance for the year was $6,440. Teresa is eligible to use the actual or standard method. If required, round your answers to the nearest dollar. a. How much is Teresa's transportation deduction based on the standard mileage method?...
Lara uses the standard mileage method for determining auto expenses. During 2019, she used her car as follows: 17,000 miles for business, 3,400 miles for personal use, 5,100 miles for a move to a new job, 1,700 miles for charitable purposes, and 850 miles for medical visits. Presuming that all the mileage expenses are allowable (ie, not subject to percentage limitations), what is Lara's deduction for: If required, round your answers to the nearest dollar. a. Business? 9,180 X Feedback...
Question 23 of 45. Lawrence operates a consulting business. He uses his personal vehicle for both business and personal use. He purchased his Toyota Highlander on July 4, 2017. for $35,000. Lawrence immediately began using it for his business. He did not claim special (bonus) depreciation or a $179 deduction. He keeps a specific mileage log for his business use. His mileage records for 2018 indicate that he drove his car a total of 17,824 miles with 4,839 miles of...
During the year 2019, Ricki, who is not self-employed and does not receive employer reimbursement for business expenses, drove her car 5,200 miles to visit clients, 10.200 miles to get to her office, and 500 miles to attend business-related seminars. All of this mileage was incurred ratably throughout the year. She spent $330 for airfare to another business seminar and $210 for parking at her office. Using the automobile expense rates in effect for 2019, what is her deductible transportation...
Transportation (LO 3.3) Martha is a self-employed tax accountant who drives her car to visit clients on a regular basis. She drives her car 4,000 miles for business and 10,000 for commuting and other personal use. Assuming Martha uses the standard mileage method, how much is her deductible auto expense for the year? a. The deductible business auto expense is $ b. Where in her tax return should Martha claim this deduction? The expense should be deducted on Martha's Schedule...
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