20 Jul WHAT AMOUNT OF TRAVEL EXPENDITURES CAN SAM DEDUCT?
1. Judy is a self-employed musician who performs for avariety of events. This year Judy was fined $250
by the city for violating the city’s noise ordinance with arelatively loud performance. As a consequence Judy contributed$1,000 to a campaign committee formed to recall the city’s mayor.Judy normally hires three part-time employees to help her scheduleevents and transport equipment. Judy paid a total of $33,000 to heremployees through June of this year. In June Judy fired herpart-time employees and hired her husband to replace them. However,Judy paid him $55,000 rather than $33,000. Judy is on the cashmethod and calendar year, and she wants to know what amount ofthese expenditures is deductible as business expenses. Pleaseshow work
2. Sam operates a small chain of pizza outlets in FortCollins, Colorado. In November of this year Sam
decided to attend a two-day management training course. Sam couldchoose to attend the course in
Denver or Los Angeles. Sam decided to attend the course in LosAngeles and take an eight-day vacation
immediately after the course. Sam reported the followingexpenditures from the trip:
Course: Tuition $ 2.500
Air Fair: 800
Hotel (10 nights) 1,200
Rental car (10 days) 900
Meals (10 days) 1,500
What amount of travel expenditures can Sam deduct? Pleaseshow work.
3. Blackwell Manufacturing uses the accrual method andreports on a calendar year. This year a
customer was injured when visiting the Blackwell factory. Thecustomer sued the company for $500,000,
and the case is still being litigated. However, Blackwell’sattorney expects that the company will pay at
least $250,000 to settle the claim. What amount, if any, canBlackwell deduct for the expected claim
settlement this year?
1. Judy is a self-employed musician who performs for avariety of events. This year Judy was fined $250
by the city for violating the city’s noise ordinance with arelatively loud performance. As a consequence Judy contributed$1,000 to a campaign committee formed to recall the city’s mayor.Judy normally hires three part-time employees to help her scheduleevents and transport equipment. Judy paid a total of $33,000 to heremployees through June of this year. In June Judy fired herpart-time employees and hired her husband to replace them. However,Judy paid him $55,000 rather than $33,000. Judy is on the cashmethod and calendar year, and she wants to know what amount ofthese expenditures is deductible as business expenses. Pleaseshow work
2. Sam operates a small chain of pizza outlets in FortCollins, Colorado. In November of this year Sam
decided to attend a two-day management training course. Sam couldchoose to attend the course in
Denver or Los Angeles. Sam decided to attend the course in LosAngeles and take an eight-day vacation
immediately after the course. Sam reported the followingexpenditures from the trip:
Course: Tuition $ 2.500
Air Fair: 800
Hotel (10 nights) 1,200
Rental car (10 days) 900
Meals (10 days) 1,500
What amount of travel expenditures can Sam deduct? Pleaseshow work.
3. Blackwell Manufacturing uses the accrual method andreports on a calendar year. This year a
customer was injured when visiting the Blackwell factory. Thecustomer sued the company for $500,000,
and the case is still being litigated. However, Blackwell’sattorney expects that the company will pay at
least $250,000 to settle the claim. What amount, if any, canBlackwell deduct for the expected claim
settlement this year?
1. Judy is a self-employed musician who performs for avariety of events. This year Judy was fined $250
by the city for violating the city’s noise ordinance with arelatively loud performance. As a consequence Judy contributed$1,000 to a campaign committee formed to recall the city’s mayor.Judy normally hires three part-time employees to help her scheduleevents and transport equipment. Judy paid a total of $33,000 to heremployees through June of this year. In June Judy fired herpart-time employees and hired her husband to replace them. However,Judy paid him $55,000 rather than $33,000. Judy is on the cashmethod and calendar year, and she wants to know what amount ofthese expenditures is deductible as business expenses. Pleaseshow work
2. Sam operates a small chain of pizza outlets in FortCollins, Colorado. In November of this year Sam
decided to attend a two-day management training course. Sam couldchoose to attend the course in
Denver or Los Angeles. Sam decided to attend the course in LosAngeles and take an eight-day vacation
immediately after the course. Sam reported the followingexpenditures from the trip:
Course: Tuition $ 2.500
Air Fair: 800
Hotel (10 nights) 1,200
Rental car (10 days) 900
Meals (10 days) 1,500
What amount of travel expenditures can Sam deduct? Pleaseshow work.
3. Blackwell Manufacturing uses the accrual method andreports on a calendar year. This year a
customer was injured when visiting the Blackwell factory. Thecustomer sued the company for $500,000,
and the case is still being litigated. However, Blackwell’sattorney expects that the company will pay at
least $250,000 to settle the claim. What amount, if any, canBlackwell deduct for the expected claim
settlement this year?
1. Judy is a self-employed musician who performs for avariety of events. This year Judy was fined $250
by the city for violating the city’s noise ordinance with arelatively loud performance. As a consequence Judy contributed$1,000 to a campaign committee formed to recall the city’s mayor.Judy normally hires three part-time employees to help her scheduleevents and transport equipment. Judy paid a total of $33,000 to heremployees through June of this year. In June Judy fired herpart-time employees and hired her husband to replace them. However,Judy paid him $55,000 rather than $33,000. Judy is on the cashmethod and calendar year, and she wants to know what amount ofthese expenditures is deductible as business expenses. Pleaseshow work
2. Sam operates a small chain of pizza outlets in FortCollins, Colorado. In November of this year Sam
decided to attend a two-day management training course. Sam couldchoose to attend the course in
Denver or Los Angeles. Sam decided to attend the course in LosAngeles and take an eight-day vacation
immediately after the course. Sam reported the followingexpenditures from the trip:
Course: Tuition $ 2.500
Air Fair: 800
Hotel (10 nights) 1,200
Rental car (10 days) 900
Meals (10 days) 1,500
What amount of travel expenditures can Sam deduct? Pleaseshow work.
3. Blackwell Manufacturing uses the accrual method andreports on a calendar year. This year a
customer was injured when visiting the Blackwell factory. Thecustomer sued the company for $500,000,
and the case is still being litigated. However, Blackwell’sattorney expects that the company will pay at
least $250,000 to settle the claim. What amount, if any, canBlackwell deduct for the expected claim
settlement this year?
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