Art is a self-employed installer of home entertainment systems, and he drives his car frequently to...
Art is a self-employed installer of home entertainment systems, and he drives his car frequently to installation locations. Art drove his car 16,200 miles for business purposes and 23,000 miles in total. His actual expenses, including depreciation, for operating the auto are $13,475 since he had to have the car repaired several times. Art has always used the actual cost method in the past. How much is Art's deductible auto expense for the year? Round any interim division calculations to five decimal places.
Round the final answer to the nearest dollar. $
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Art is a self-employed installer of home entertainment systems,
and he drives his car frequently to...
Art is a self-employed installer of home entertainment systems, and he drives his car frequently to...
Art is a self-employed installer of home entertainment systems, and he drives his car frequently to installation locations. Art drove his car 11,800 miles for business purposes and 27,000 miles in total. His actual expenses, including depreciation, for operating the auto are $15,950 since he had to have the car repaired several times. Art has always used the actual cost method in the past. How much is Art's deductible auto expense for the year? Round any interim division calculations to...
Problem 2 Problem 2 (15 points) A curt is self-employed as a real estate salesman and drives his car frequently to take...
Problem 2
Problem 2 (15 points) A curt is self-employed as a real estate salesman and drives his car frequently to take clients to uently to take clients to see homes for sale Curt drove his car 20,000 miles for business purposes and 25,000 miles in total His actual expenses for operating the auto including depreciation are $10,000 since he drove it so much during the year. Curt has used the actual cost method since he started his business in...
9 Required information The following information applies to the questions displayed below. Ryan is self-employed. This...
9 Required information The following information applies to the questions displayed below. Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $2,000 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $3,600. During the year, he drove his car a total of 17,900 miles (a combination of business and personal travel). (Do not round intermediate calculations. Round your final answer...
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 .
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...
9a. Ryan is self-employed. This year Ryan used his personal auto for several long business trips....
9a. Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $1,800 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $3,000. During the year, he drove his car a total of 20,300 miles (a combination of business and personal travel). (Do not round intermediate calculations. Round your final answer to the nearest dollar amount.) a. Ryan can provide written documentation...
In 2019, Dan, a self-employed taxpayer, uses his car extensively for business purposes. He has not...
In 2019, Dan, a self-employed taxpayer, uses his car extensively for business purposes. He has not claimed any depreciation on his car in the past. Dan's records reflect that he incurred the following expenses for 2019: Gasoline and oil $9,100 Repairs on auto 3,200 Business parking and tolls 200 Depreciation -- business portion 2,200 Insurance 795 Licenses, tags, etc. 100 Total $15,595 Total miles driven 30,000 Business miles (mileage incurred ratably throughout the year) 24,000 What is the maximum deduction...
3.Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan...
3.Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $1,400 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $3,000. During the year, he drove his car a total of 12,000 miles (combination of business and personal travel). Ryan can provide written documentation of the business purpose for trips totaling 3,000 miles. If Ryan does not use the standard mileage...
3.Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid...
3.Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $1,400 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $3,000. During the year, he drove his car a total of 12,000 miles (combination of business and personal travel). Ryan can provide written documentation of the business purpose for trips totaling 3,000 miles. If Ryan does not use the standard mileage rate,...
Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan...
Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $1,590 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $4,800. During the year, he drove his car a total of 18,800 miles (a combination of business and personal travel). Ryan estimates that he drove approximately 1,925 miles on business trips, but he can only provide written documentation of the business...
Problem 2
Problem 2 (15 points) A curt is self-employed as a real estate salesman and drives his car frequently to take clients to uently to take clients to see homes for sale Curt drove his car 20,000 miles for business purposes and 25,000 miles in total His actual expenses for operating the auto including depreciation are $10,000 since he drove it so much during the year. Curt has used the actual cost method since he started his business in...
9 Required information The following information applies to the questions displayed below. Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $2,000 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $3,600. During the year, he drove his car a total of 17,900 miles (a combination of business and personal travel). (Do not round intermediate calculations. Round your final answer...
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...
In 2019, Dan, a self-employed taxpayer, uses his car extensively for business purposes. He has not claimed any depreciation on his car in the past. Dan's records reflect that he incurred the following expenses for 2019: Gasoline and oil $9,100 Repairs on auto 3,200 Business parking and tolls 200 Depreciation -- business portion 2,200 Insurance 795 Licenses, tags, etc. 100 Total $15,595 Total miles driven 30,000 Business miles (mileage incurred ratably throughout the year) 24,000 What is the maximum deduction...
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