Mikes employer reimburses him for the business-related

Reference no: EM13584174

In the current year, Mike's AGI is $50,000. Mike has no miscellaneous itemized deductions other than the employment-related expenses listed below. Mike attends a professional trade association convention in Los Angeles. He spends three days at the meeting and two days vacationing before the meeting. Mike was unable to obtain excursion airfare rates (i.e., staying over a Saturday night) despite the fact that he was on vacation immediately before the meeting.

Mike's total expenses include the following:

Airfare           $                     450
Meals             ($50 per day) 250
Hotel            ($100 per day) 500
Entertainment of customers (business is discussed) 500

Mike's employer reimburses him for the business-related expenses and, accordingly, Mike receives a reimbursement of $1,400 ($450 + 150 +300 + 500)

1. How much can Mike deduct for employment-related expenses? )
2. How is the reimbursement reported on Mike's tax return?
3. How much of the reimbursement may Mike's employer deduct?

Reference no: EM13584174

Questions Cloud

A state makes licenses plates with four letters followed by : a state makes licenses plates with four letters followed by four digits how many licences plates can you have with no

The partnership has 60000 of liabilities when betty retires : betty retires from the bs partnership when the basis of her one-third interest is 105000 which includes her share of

For this discussion assume the role of an investor how : for this discussion assume the role of an investor. how would you know whether the company you are considering to

Determine the normal reaction at the roller a and : determine the normal reaction at the roller a and horizontal and vertical components at point b for equilibrium of the

Mikes employer reimburses him for the business-related : in the current year mikes agi is 50000. mike has no miscellaneous itemized deductions other than the employment-related

A of october 2009 the united states federal dept was : as of october 2009 the united states federal dept was 11963668027500. if each of the 307000000 people in the united

Management team met their bonus goals this month something : how would the following be journalized?management team met their bonus goals this month something they havent done

Are there any models out there that could be used that : another approach to the legislatures interest in creating alternative approaches to dealing with juvenile offenders

Evaluate angela peters attorneys first month of operations : angela peters practiced law with a partnership for 10 years. recently she opened her own law office which she operates

User Account

All Pages