What are michael deductions for the year

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Reference no: EM132809122

In the current year, Michael takes a trip from New York to France. He frequently travels for business and this time he is away from home from September 10 through September 19. He spends 3 days playing golf and meeting up with his friends from France to take the opportunity to practice the language. He also took the opportunity to purchase gifts for his wife and children, spending a total of $349. He also spends 5 days (and 2 travel days) conducting business and also considering purchasing another house for vacation purposes. His airfare is $3,870, his meals amount to $186 per day, and lodging and incidental expenses are $298 per day. He learned that it is easier to handle rent and other payments while working abroad, if he has banking arrangements in this country. In March and April of this year, during one of his frequent trips, he opened an account in Germany and one in France. Each started with a $7,550 deposit.

Problem 1: What are Michael's deductions for the year?

Reference no: EM132809122

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