Business, 25.02.2020 21:55 ridzrana02
Amos is a self-employed tax attorney. He and Monica, his employee, attend a conference in Dallas sponsored by the American Institute of CPAs. The following expenses are incurred during the trip:
Amos Monica
Conference registration $900 $900
Airfare 1,200 700
Taxi fares 100 0
Lodging in Dallas $750 $300
Amos pays for all of these expenses.
a. What is the tax effect of these expenses for Amos? ( Multiple Choice )
The expenses are ( deductible for AGI - deductible from AGI - not deductible )
b. Calculate the total amount of deductible expenses (for both Amos and Monica).
Conference registration $
Airline tickets
Taxi fares
Lodging
Total $
c. If the American Bar Association had sponsored the conference, calculate the total amount of deductible expenses (for both Amos and Monica).
( $ )
Answers: 3
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