Kim works for a clothing manufacturer as a dress designer. During 2021, she travels to...

90.2K

Verified Solution

Question

Accounting

image
image
Kim works for a clothing manufacturer as a dress designer. During 2021, 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 at local restaurants (8 days) 2,160 Airport transportation 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) If an amount is zero, enter "0". If required, round all interim calculations to nearest dollar. a. Determine Kim's business expenses, presuming no reimbursement. 140 Airfare Lodging Meals Transportation Total What amount may she deduct on her tax return? b. Would the tax treatment of Kim's deduction differ if she was an independent contractor? b. Would the tax treatment of Kim's deduction differ if she was an independent contractor? The deductible expenses would be $ and the expenses would be classified as

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students