Lindsay owns and operates a sole proprietorship. During 2020, she incurred the following expenses: 1....
80.2K
Verified Solution
Link Copied!
Question
Accounting
Lindsay owns and operates a sole proprietorship. During 2020, she incurred the following expenses: 1. Lindsay and her employees took several clients out for lunch during the year for a total cost of $420. Lindsay also took the client of her largest account out for dinner and a trip to the theater. The dinner (for four people) cost $310 and the tickets to the show cost $500 total. 2. One of Lindsay's employees drove their personal vehicle to and from client sites during the year. Lindsay reimbursed the employee for 1,460 business miles during 2020. 3. In October, Lindsay took a trip to attend a trade show and to meet with clients out of state. Her trip lasted six days. She spent four days at the trade show and one day meeting with clients. She expects this trip to generate additional revenue for the business. She spent $735 on airfare, $130 per day for lodging, $20 per day for transportation around the city, $70 per day for meals, and $50 to replace the charging cable for her personal laptop which broke on day two of the trip (without the new cable, the battery in her computer would have run out before her trip ended) What is Lindsay's total mixed motive expense deduction for 2020? Please round to the nearest dollar
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!