How much may the employer deduct for these expenses

Reference no: EM13130434

Carl, an employee of a Miami CPA firm, was sent to work in Tampa for eight months on March 1, year 1, on a financial audit. His monthly transportation expenses were $400, his monthly lodging was $1,200, and his meals were $800 per month. At the end of the sixth month, his employer determined that the audit was going to continue for eight more months due to an SEC investigation. How much of his expenses may Carl deduct if Carl's employer reimburses him for all of these expenses and includes the reimbursements in his income in years 1 and 2? How much may the employer deduct for these expenses in years 1 and 2?

Reference no: EM13130434

Questions Cloud

Explain distillation to extract the methanol : Provide the Mechanism when 50% Methanol/Water solution is used in simple distillation to extract the Methanol

Discuss reasons why a company may want to sell : An article recently appeared in the Wall Street Journal indicating that companies are selling their receivables at a record rate. Discuss reasons why a company may want to sell their receivables and the advantages and disadvantages of this practi..

What do potential voting rights refer to : Describe two methods for treating the preacquisition revenue and expense items of a subsidiary purchased during a fiscal period.

Which country has higher percentage of women taller : Adult women in Japan have heights which are normally distributed with mean 158 centimeters and standard deviation 6 centimeters. Which country has the higher percentage of women taller than 167 centimeters?

How much may the employer deduct for these expenses : Carl, an employee of a Miami CPA firm, was sent to work in Tampa for eight months on March 1, year 1, on a financial audit. His monthly transportation expenses were $400, his monthly lodging was $1,200, and his meals were $800 per month.

Dilution and percentages problem : A restaurant manager has 2 liters of white wine that is 12% alcohol. How many liters of grape juice should he add to get a drink that is 10% alcohol?

Explain grams of calcium carbonate : Why is sodium chloride added to the tea solution before extracting with ethyl acetate? 4 grams of calcium carbonate was added to 90 ml's of water in a flask

Factors for the discrepancy : factors for the discrepancy between English spelling and its pronunciation

What is the cost of goods manufactured : The materials inventory increased from the beginning to the end of the period by $12,000, while the work in process inventory decreased from the beginning to the end of the period by $5,000. What is the cost of goods manufactured?

User Account

All Pages