Questions from Federal Taxation

Q: Julianita is a sales representative for a food distributor and spends only

Julianita is a sales representative for a food distributor and spends only 1 day of the week in the office. Her office is 12 miles from home. She also has a part-time job as a bartender. Typically,...

Q: Cassandra owns her own business and drives her van 15,000

Cassandra owns her own business and drives her van 15,000 miles a year for business and 5,000 miles a year for commuting and personal use. She purchases a new van in 2017 and wants to claim the large...

Q: Mario owns his own business and drives his car 15,000

Mario owns his own business and drives his car 15,000 miles a year for business and 7,500 miles a year for commuting and personal use. He wants to claim the largest tax deduction possible for busines...

Q: Prudy is a recent college graduate who has taken a position with

Prudy is a recent college graduate who has taken a position with a real estate brokerage firm. Initially, Prudy will be selling both residential and commercial property. She is thinking about buying...

Q: Juanita travels to San Francisco for 7 days. The following facts

Juanita travels to San Francisco for 7 days. The following facts are related to the trip: Round trip airfare…………………………………………………..$ 475 Hotel daily rate for single or double occupancy……………175 Meals -...

Q: Return to the facts of problem 48. Assume that each month

Return to the facts of problem 48. Assume that each month, Joe Bob has $2,800 in federal income tax and $900 of state income tax withheld from his salary. What is Joe Bob's take-home pay in pay in a...

Q: Chai is self-employed and travels to New Orleans for a

Chai is self-employed and travels to New Orleans for a business conference. The following facts are related to the trip: Round trip airfare………………………………………………..$375 Hotel daily rate for single……………………...

Q: Olga has to travel to Philadelphia for 2 days on business.

Olga has to travel to Philadelphia for 2 days on business. She enjoys history and is planning to visit the Liberty Bell and other historic sights in the city. If time permits, she would like to make...

Q: Meek, Inc., remodeled its offices this year. Renee,

Meek, Inc., remodeled its offices this year. Renee, the executive vice president, bought the desk, couch, and lamp set that had been in her office for $200. Identify the tax issue(s) posed by the fac...

Q: Marisa is an obstetrician. Every February, she attends a 3

Marisa is an obstetrician. Every February, she attends a 3-day conference on financial planning with Ester, her college roommate. Ester is Marisa’s accountant and is a certified fi...