How much if any qualifies as a deduction

Assignment Help Accounting Basics
Reference no: EM132479358

Question 1: Bill is the regional manager for a national chain of auto parts stores and is based in Salt Lake City. When the company opens new stores in Boise, Bill is given the task of supervising the initial operations. For 3 months, he works weekdays in Boise and returns home on weekends. He spends $310 returning to Salt Lake City but would have spent $290 had he stayed in Boise for the weekend. As to the weekend trips, how much, if any, qualifies as a deduction?

Option 1: $0 because the trips are personal and not work related

Option 2: $0 because Bill's tax home has changed from Salt Lake City to Boise

Option 3: $290

Option 4: $310

Option 5: None of the above

Reference no: EM132479358

Questions Cloud

Identify the article that best supports nursing intervention : Identify the article that best supports nursing interventions for your topic. Explain why this article best supports your topic as you compare the article.
What decision does this inform you to make and why : A particular resource class must perform at a level consistent with the rest of the school to avoid being discontinued. On the first quarter statewide test
Create a tax depreciation problem : Create a tax depreciation problem. Determine and calculate depreciation using MACRS determine which convention the company should use
Compute the population mean of scrapper elevator company : Scrapper Elevator Company has 20 sales representatives who sell its product throughout the United States and Canada. The number of units sold last month
How much if any qualifies as a deduction : Salt Lake City but would have spent $290 had he stayed in Boise for the weekend. As to the weekend trips, how much, if any, qualifies as a deduction?
Mean amount of life insurance per household : If we select a random sample of 50 households, what is the standard error of the mean? What is the expected shape of the distribution of the sample mean?
Confidence affect the sample size? required : Does the decrease in confidence affect the sample size? required?
ITECH 7400 IT Service Management and Professional Culture : ITECH 7400 IT Service Management and Professional Culture Assignment help and solution, Federation University - assessment writing service
What is the degree of operating leverage : Would it be profitable for this company to increase fixed costs by $ 10,000 for advertising campaign in order to increase sales volume by 5%?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Stark company has five employees employees paid by the hour

stark company has five employees. employees paid by the hour receive a 10 per hour pay rate for the regular 40-hour

  On january 1 2007 korizan company adopted a plan to

on january 1 2007 korizan company adopted a plan to accumulate funds to retire 8000000 of bonds payable which are due

  How much of the loss can he deduct against ordinary income

If Harvey is an active participant in the rental and his AGI is $80,000, how much of the loss can he deduct against ordinary income in 2009

  What is a third party payment system

How are providers paid and why do different patients pay different amounts for the same service? What is a third party payment system? Why aren't some charges reported as revenue for health care organizations?

  Springtown pediatrics office manager approves the extension

Springtown Pediatrics office manager approves the extension of credit to patients and also authorizes write offs of uncollectible accounts  Springtown Pediatrics office manager may extend credit based on special circumstances rather than using a fo..

  During the year chester had the following transactions

during the year chester had the following transactions involving capital assets gain on the sale of an arrowhead

  Compute the indirect manufacturing cost per unit

Compute the ABC indirect manufacturing cost per unit for each product and compute the indirect manufacturing cost per unit using direct labor hours from the single-allocation-base system.

  A company uses 40000 gallons of materials for which they

a company uses 40000 gallons of materials for which they paid 7.00 a gallon. the materials price variance was 80000

  Compute earnings and profits

Distinguish between current and accumulated earnings and profits. Why is it important to make this distinction?

  Sampling company which pays 10 commission to its sales

sampling company which pays 10 commission to its sales people reported sales revenues of 210000 for the period just

  What was impact of your r and d decisions on materials cost

What was the impact of your R&D decisions on materials cost? What other decisions were impacted by the increase or decrease?

  How many units would the company plan to produce in july

On the basis of this information, how many units would the company plan to produce in July

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd