What is hazels car expense deduction for the year

Assignment Help Financial Management
Reference no: EM132317464

Question

Hazel uses her personal car for work as an employee. For the year, Hazel drove 5,000 business miles and 30,000 total miles.

Her car-related expenses include $4,000 for gas; $600 for insurance; $200 for registration fees; $3,000 depreciation, and $100 for business-related parking and tolls.

Hazel's employer does not reimburse her for the use of her car. Using the actual method, not mileage method, What is Hazel's car expense deduction for the year?

Reference no: EM132317464

Questions Cloud

What are the different social media applications : Research at least four different social media applications that can be used to establish, promote, and/or conduct business. Explain the rationale and benefits.
The rate of return on total assets measures a companys : Which of the following sections of the statement of cash flows is presented differently between the direct method and indirect method?
Summarize key details about the organization : Summarize key details about the organization and two or three of the most important insights you have developed so far about the organization during your course
Evaluate what might have made your decision better : Discuss the life-changing decision you made and how you went about making it. Also, you will tell the outcome and evaluate what might have made your decision
What is hazels car expense deduction for the year : Hazel's employer does not reimburse her for the use of her car. Using the actual method, not mileage method, What is Hazel's car expense deduction for the year?
What are debt covenants : What are debt covenants and, what are the consequences if a company does not meet these covenants? What are some of the proactive approaches.
Should portsmouth hire the nearby upholstering company : How much additional contribution margin per hour can Portsmouth earn if if it hires the nearby upholstering company to make Love Seats?
Should the company accept the special order : What is the financial advantage of accepting the special order from the wedding party? Should the company accept the special order?
Explaining what is the marketing : What is Marketing? What do you think are the key differences between marketing healthcare services and marketing a tangible product like food, computers etc.?

Reviews

Write a Review

Financial Management Questions & Answers

  Foreign company acquisition

Acquisition by a foreign company and the effects of that decision and the results of foreign exchange in Euro and the exchange rate differences.

  Financial management for profit and non profit organizations

In this essay, we are going to discuss the issues of financial management in a non-profit organisation.

  Method for estimating a venture''s value

Evaluate venture's present value, cash and surplus cash and basic venture capital.

  Replacement analysis

This document show the Replacement Analysis of modling machine. Is replacement give profit to company or not?

  Business finance task - capital budgeting

Your company is considering using the payback period for capital-budgeting. Discuss the advantages and disadvantages of this technique.

  Analysis of the investment

In this project, you will focus on one of these: the additional cost resulting from the purchase of an apple press (a piece of equipment required to manufacture apple juice).

  Conduct a what-if analysis

Review the readings and media for this unit, including the Anthony's Orchard case study media. Familiarise yourself with the Anthony's Orchard company and its current situation.

  Determine operational expenditures

Organisations' behaviour is guided by financial data. In the short term, such data will help determine operational expenditures; in the long term, historical data may help generate forecasts aimed at determining strategic plans. In both instances.

  Personal financial management

How much will you have left over each half year if you adopt the latter course of action?

  Sources of finance for expansion into new foreign markets

A quoted company is considering several long-term sources of finance for expansion into new foreign markets.

  Long term financial planning

This assignment is designed for analyze Long term financial planning begins with the sales forecast and the key input in the long term fincial planning.

  Explain the role of fincial manager

This assignment explain the role of fincial manager, function of manger. And what are the motives of financial manager.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd