Reference no: EM132686808
Question - Apu Nahasapeemapetilon, CPA has AGI of $50,000 and he incurs the following expenses:
Expense Amount
Business traveling expenses $1,000
Business Related Meals $2,000
Office supplies $1,000
Professional association dues paid $1,000
Commuting expenses $1,000
Premiums paid on key man life insurance policy $1,000
Meals while working late $2,000
Total $9,000
Assuming Apu is self-employed, how much of the above expenses can he deduct on his federal tax return?
A. $4,000
B. $5,000
C. $6,000
D. $7,000
E. $8,000
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