What are michael deductions for the year

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

Questions Cloud

Identify the signs of deception : You are the manager of a Giant Eagle and there was a theft of steaks over the weekend. The following conversation takes place on the following Wednesday

Global retailers are centralized and standardized : Global retailers are centralized, standardized, and generally small-format retailers.

Which conclusion to draw from the behavior of kedagang : On April 15th 2020, Kedagang & Co. receives a $40,000, Which appropriate conclusion to draw from the behavior of Kedagang & Co.?

Contributors to management theory : It is 1901. Alicia Smithfield, daughter of the founder of Smithfield Custom Furniture, just inherited the company. She is the only surviving heir to the furnitu

What are michael deductions for the year : What are Michael's deductions for the year? In the current year, Michael takes a trip from New York to France. He frequently travels for business

Resource and time budgets : You are going to be the project manager for the construction of a large warehouse for a major international company.

What is the effect on the interest sensitivity of the bank : What is the effect on the interest sensitivity of the bank if it reduced its liabilities by $10 billion in Super Now Checking Accounts to $340 million

What are some of your ideas to foster team chemistry : Do you believe that team chemistry happens or is it created? What are some of your ideas to foster team chemistry?

Calculate the annual break-even operating cash flow : Calculate the annual break-even operating cash flow of the publishing project, and clearly state your answer explicitly in a sentence.

User Account

All Pages