Transportation deduction based on standard mileage method

Assignment Help Business Economics

Reference no: EM131081872

Teresa is a civil engineer who uses her automobile for business. Teresa drove her automobile a total of 14,960 miles during 2015, of which 85 percent was business mileage. The actual cost of gasoline, oil, depreciation, repairs, and insurance for the year was $8,467. a. How much is Teresa’s transportation deduction based on the standard mileage method? $ b. How much is Teresa’s transportation deduction based on the actual cost method? $ c. Which method should Teresa use to calculate her transportation deduction? Why?

Reference no: EM131081872

Questions Cloud

What information is omitted from the box plots : Create box plots to summarize these distributions of annual percentage changes. Comparing the box plots for white-collar and blue-collar workers, discuss the similarities or differences you see. Given that these are time series variables, what info..

Write px (x), the pmf of x : Write PX (x), the PMF of X. Be sure to write the value of PX (x) for all x from -∞ to ∞.

Price elasticity of demand for two customer segments : Motors has determined that the price elasticity of demand for two customer segments (A Luxury Car and a Premium Car) is -1.35 and -1.55. Based on their expectations of profitability, Kashian realizes the price of a Luxury Car should be $51,500. How m..

Assignment on user frustration : The quality of the user experience is very important to the success of an application. In the early days of computing, users often experienced long delays since computing power was poor and networks had comparatively slow throughput.

Transportation deduction based on standard mileage method : Teresa is a civil engineer who uses her automobile for business. Teresa drove her automobile a total of 14,960 miles during 2015, of which 85 percent was business mileage. The actual cost of gasoline, oil, depreciation, repairs, and insurance for the..

Shareholder theory versus stakeholder theory : Explain the basics of stakeholder theory as if you are talking to a friend. Should a corporation care about the interests of people other than shareholders? How would a corporation behave differently if it accepted a shareholder theory versus a stake..

Social media usage differences around the world : Can you find the services that are most popular in Russia and Middle Eastern countries? Based on the information you find, what can you conclude about social media usage differences around the world?

Describing individuals socioeconomic status : America is stratified into levels describing individuals’ socioeconomic status: upper class, middle class, working class, and the poor. Describe characteristics of each class and, when appropriate, the sub-classes.

Calculate the compound growth rate in sales and earnings : Develop some additional financial data which will further illustrate the companys condition - calculate the compound growth rate in sales and earnings for the company.

User Account

All Pages