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shifts to the 17. In d i ng whether a ver is considered to be in travel status for tax purpose resurfa person is reassigned for an indefinite period, the individual's tax homesh www location and the t ayer is not considered to be in travel status 18. Contacted with commuting to and from a business location is a deductible expense 19. Ruhe sole proprietor of a CPA firm, is responsible for a large client base. She often driveste meetings at two different clients' offices in a single day.Ru can deduct the transportation costs driving to the various client moetings 20. Vincent a self-employed taxpayer, travels to a business conference out of town. While at the conference, we spends 500 or breakfasts and dinners. Because he cats alone, he cannot deduct any of the meal costs 21. Is-home office expenses are deductible if the office is used exclusively on a regular basis as the principal place of business for any trade or business of the taxpayer. 22. Fin is a self-employed tutor, regularly meeting with clients in a 100 square foot area of his home. Finisterble at keeping records. Without the records, he will be able to deduct S500 for a home office deduction for AGI 23. Expenditures for a weight reduction program are deductible if recommended by a physician to treat a specific medical condition such as hypertension caused by excess weight. 24. Capital expenditures incurred for medical purposes which permanently improve or better the taxpayer's property are deductible, but only to the extent the cost exceeds the increase in fair market value to the property attributable to the capital expenditure. 25. Finance charges on personal credit cards are deductible interest expense as an itemized deduction 26. Subject to net equity and dollar limitations, a taxpayer may deduct interest on a home equity loan, secured by the residence, used to purchase an automobile 27. For charitable contribution purposes, capital gain property includes property which, if sold, would produce a long-term capital gain. 28An individual makes substantial cash contributions to public charities. He will be able to deduct these contribution up to a ceiling of 50% of AGL 29. The qualified business income deduction is only available to owners of businesses operated in a form other than the corporation form 90. lumrally sad this is the last true false question to be experienced in Tax Accounting 2 Page

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