Kim works for a clothing manufacturer as a dress designer. During 2020, she travels to New York City to attend five days of fashion shows and then spends three days sightseeing. Her expenses are as follows:

Airfare $1,800
Lodging (8 nights) 2,340
Meals (8 days) 2,160
Airport transportation 115

Assume lodging/meals are the same amount for the business and personal portion of the trip ($293 per day for lodging and $270 per day for meals).

Required:
a. Presuming no reimbursement, how much can kim deduct as to the trip?
b. Would the tax treatment of Kim's deduction differ if she was an independent contractor (rather than an employee)? Explain.

Question

08-04-2021
Business

Answered

Find the best solutions to your questions at Westonci.ca, the premier Q&A platform with a community of knowledgeable experts. Discover precise answers to your questions from a wide range of experts on our user-friendly Q&A platform. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform.

Kim works for a clothing manufacturer as a dress designer. During 2020, she travels to New York City to attend five days of fashion shows and then spends three days sightseeing. Her expenses are as follows:

Airfare $1,800
Lodging (8 nights) 2,340
Meals (8 days) 2,160
Airport transportation 115

Assume lodging/meals are the same amount for the business and personal portion of the trip ($293 per day for lodging and $270 per day for meals).

Required:
a. Presuming no reimbursement, how much can kim deduct as to the trip?
b. Would the tax treatment of Kim's deduction differ if she was an independent contractor (rather than an employee)? Explain.

Sagot :

Thank you for visiting our platform. We hope you found the answers you were looking for. Come back anytime you need more information. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.

A triangular flower bed (space for planting flowers) needs a thin metal border all the way around it. The sides are 7 feet, 6 feet, and 9 feet long. How many

The plasma membrane is made up of: A. A double layer of cellulose B. A single layer of cellulose C. A double layer of protein D. A double layer of phospholipids

Colonel George Washington led a militia force into the Ohio Valley in 1754. What was the name of the fort that Washington built and was near the site of the fir

A population of black cats has been interbreeding. However, in one litter, a sole gray kitten is born. The successive generations now have a few gray cats. Whic

both chloroplasts and mitochondria are like in that they both have inner membranes and their own blank.

According to Islamic belief Allah ordained that Muhammad was a subordinate God. the teachings of Jesus and Moses are incorrect and immoral. Muhammad created the

Which of the following cell organelles surrounds the nuclear membrane? A; rough endoplasmic reticulum B; smooth endoplasmic reticulum C; the Golgi apparatus

Carrie and krystal are taking a road trip from Greenville to north valley.each person has her own map,and the scales on the maps are different. a. on carries ma

Fact and Opinion Direction : Read each statement and then circle whether it is a fact or opinion. Explain your answer. 1-George Washington was the first Presid

C6H12O6 + O2 → 6 CO2 + 6 H2O ΔG = –686 kcal/mol This reaction represents cellular respiration. What happens to the energy released from glucose during this reac