Fred, who is self-employed, travels from Denver to Miami primarily on business. He spends five days...
Fred, who is self-employed, travels from Denver to Miami primarily on business. He spends five days conducting business and two days sightseeing. His expenses are $685 (airfare), $245 per day (meals), and $130 per night (lodging).
If required, round your answers to the nearest dollar.
Fred's deductible expenses are:
- Airfare: $
- Lodging:$
- Meals: $
Homework Answers
Answer:$1947.50
Fred's deductible expenses are:
Airfare: $ 685
Lodging: $130 x 5 days = $650
Meals: 5 days x $245 x 50% = $612.50
Total deductible expenses = $685 + $650 + $612.50 = $1947.50
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