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.

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.

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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On December 27, 2019, Roberta purchased four tickets to a charity ball sponsoredby the city of San Diego for the benefit of underprivileged children.Each ticket cost $200 and had a fair market value of $35. On the same day as thepurchase, Roberta gave the tickets to the minister of her church for personal use byhis family. At the time of the gift of the tickets, Roberta pledged $4,000 to the buildingfund of her church. The pledge was satisfied by a check dated December 31,2019, but not mailed until January 3, 2020.a. Presuming that Roberta is a cash basis and calendar year taxpayer, how muchcan she deduct as a charitable contribution for 2019?b. Would the amount of the deduction be any different if Roberta was an accrualbasis taxpayer? Explain.