Individual Income Taxes
43rd Edition
ISBN: 9780357109731
Author: Hoffman
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Textbook Question
Chapter 9, Problem 33P
On Thursday, Justin flies from Baltimore (where his sole proprietorship office is located) to Cadiz (Spain). He conducts business on Friday and Tuesday; vacations on Saturday, Sunday, and Monday (a legal holiday in Spain); and returns to Baltimore on Thursday. Justin was scheduled to return home on Wednesday, but all flights were canceled due to bad weather. As a result, he spent Wednesday watching floor shows at a local casino.
- a. For tax purposes, what portion of Justin’s trip is regarded as being for business?
- b. Suppose Monday was not a legal holiday. Would this change your answer to part (a)? Explain.
- c. Under either part (a) or (b), how much of Justin’s airfare qualifies as a deductible business expense?
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Chapter 9 Solutions
Individual Income Taxes
Ch. 9 - Prob. 1DQCh. 9 - Mason performs services for Isabella. In...Ch. 9 - Milton is a resident of Mobile (Alabama) and is...Ch. 9 - In 2017, Emma purchased an automobile, which she...Ch. 9 - Prob. 5DQCh. 9 - Prob. 6DQCh. 9 - Prob. 7DQCh. 9 - Prob. 8DQCh. 9 - Prob. 9DQCh. 9 - Prob. 10DQ
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