Denger During 2021, José, a self-employed technology consultant, made gifts in the following amounts:To Haley (José's personal assistant) at Christmas$36To Darryl (a key client)-$3 was for gift wrapping53To Darryl's wife (a homemaker) on her birthdayTo Veronica (José's office manager) at Christmas2030In addition, on professional assistants' day, José takes Haley to lunch at a local restaurant at a cost of $82. Presuming that José hasadequate substantiation, how much can he deduct?Do not round intermediate computations. If required, round your final answer to the nearest cent.$X

Gifts for customers are deductable upto $25 each.

21, Jose, a sell To Haley (José's personal assistant) at Christmas To Darryl (a key client)-$3 was for gift wrapping To Darryl's wife (a homemaker) on her birthday To Veronica (José's office manager) at Christmas sultant, made girts in $36 53 20 30 ving amounts: In addition, on professional assistants' day, José takes Haley to lunch at a local restaurant at a cost of $82. Presuming that José has adequate substantiation, how much can he deduct?

21, Jose, a sell To Haley (José's personal assistant) at Christmas To Darryl (a key client)-$3 was for gift wrapping To Darryl's wife (a homemaker) on her birthday To Veronica (José's office manager) at Christmas sultant, made girts in $36 53 20 30 ving amounts: In addition, on professional assistants' day, José takes Haley to lunch at a local restaurant at a cost of $82. Presuming that José has adequate substantiation, how much can he deduct?

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter9: Deduct Ions: Employee And Self-employed - Related Expenses

Section: Chapter Questions

Problem 33P

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During 2021, José, a self-employed technology consultant, made gifts in the following amounts: To Haley (José's personal assistant) at Christmas $36 To Darryl (a key client)—$3 was for gift wrapping 53 To Darryl's wife (a homemaker) on her birthday 20 To Veronica (José's office manager) at Christmas 30 In addition, on professional assistants' day, José takes Haley to lunch at a local restaurant at a cost of $82. Presuming that José has adequate substantiation, how much can he deduct? Do not round intermediate computations. If required, round your final answer to the nearest cent. Answer it is not 94
Charlie, a self-employed financial planner, made gifts in 2021 in the following amounts: To Haley, Charlie's professional assistant $36 To Darryl (a key client, includes $3 for gift wrapping) 28 To Darryl's daughter for her graduation (not a client) 20 To Veronica, Charlie's personal hair stylist 30 In addition, Charlie took Haley to lunch at a local restaurant on professional's day 62 Assuming that Charlie has adequate substantiation, how much can he deduct? Show calculations for partial credit.
During the current year, Paul, the vice president of a bank, made gifts in the following amounts. To Sarah (Paul's personal assistant) at Christmas $39 To Darryl (a key client)-$3 was for gift wrapping 42 To Darryl's wife (a homemaker) on her birthday 14 To Veronica (Paul's boss) at Christmas 75 In addition, on professional assistants' day, Paul takes Sarah to lunch at a cost of $50. Presuming that Paul has adequate substantiation and is not reimbursed, how much can he deduct? Do not round intermediate computations. If required, round your final answer to the nearest cent.
Charlie, a self-employed financial planner, had the following expenses in 2021 in the following amounts: Gift To Haley, Charlie's professional assistant $36 Gift To Darryl (a key client, includes $3 for gift wrapping) 28 Gift To Darryl's daughter for her graduation (not a client) 20 Gift To Veronica, Charlie's personal hair stylist 30 In addition, Charlie took Haley to lunch at a local restaurant on administrative professional's day 62 Assuming that Charlie has adequate substantiation, how much can he deduct? Please show calculations or explanation.
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