1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
tresset_1 [31]
3 years ago
6

Greg, a self-employed plumber, commutes from his home to his office which is 10 miles away. At his office, he loads his truck fo

r the day with the parts that he needs. Then he is off to see his first customer of the day, Mr. Smith. Mr. Smith is 5 miles away from the office. After Mr. Smith’s job, Greg goes to his next plumbing client, Martin’s Dry Cleaning, which is 21 miles away from Mr. Smith. Greg spends the rest of the day at Martin’s Dry Cleaning. From Martin’s Dry Cleaning, Greg goes home which is now only 7 miles away. How much can Greg count as deductible transportation miles?
a. none

b. 21 miles

c. 26 miles

d. 43 miles
Business
1 answer:
Tasya [4]3 years ago
4 0

Answer:

26 Miles

Explanation:

As per IRS,

Commuting is a personal nature of expense, which is not allowable as deduction.

The following things are not deductible for Greg:

(i) Distance traveled from office to home and home office is not deductible.  

(ii) At the end of day, 7 miles distance traveled towards home from Martin's dry cleaning is not deductible.

Deductible includes the miles traveled to the business sites from the office for Greg.

Therefore,

Deductible transportation miles:

= Distance traveled from office to smith's house + Distance traveled from smith's house to martin's dry cleaning

= 5 miles + 21 miles

= 26 Miles

You might be interested in
When the price of hamburgers increased from $1.50 to $2.75, the quantity demanded decreased from 375 units sold to 250 units sol
Ghella [55]

Answer:

Inelastic

Explanation:

When the price of hamburgers increased from $1.50 to $2.75, the quantity demanded decreased from 375 units sold to 250 units sold. Using the midpoint method, hamburgers are said to be inelastic

1. Change in price = 2.75-1.5 / (1.5+2.75)/2 = 1.25/2.125 = 0.59

2. Change in quantity demanded = 375-250 / (375+250)/2 = 125/ 312.5 = 0.4

3. Price Elasticity = 0.4/0.59 = 0.68

4. When the value of elasticity is less than 1, it suggests that the demand is insensitive to price and is inelastic

7 0
3 years ago
In business-related systems, ________ is becoming increasingly important as text-based applications such as electronic mail, bul
Fudgin [204]

Answer:

A) Textual output

Explanation:

Text output is the common type of the graphic output that could be found within the client area. it is applied by  the applications in various ways

It can be worked for two things i.e. forming the text and in actual draw the text

In the given case the text based application like electronic mail, information service would be used so here the textual output should be choose for the same

7 0
3 years ago
On January 1, 2021, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this date was $101,600. The ending i
Lyrx [107]

Answer:

a. An additional layer of $12,760 is added to the 12/31/2021 balance.

Explanation:

The computation of the inventory balance is given below:

2021 Base year cost is

=  $131,040 ÷ 1.05

= $124,800

Additional layer is

= $124,800 - $101,600

= $23,200

2022 Base year cost is

= $150,040 ÷ 1.10

= $136,400

Additional layer is

= ($136,400 - $124,800 ) × 1.10

= $11,600  1.10

= $12,760

Therefore the first option is correct

3 0
3 years ago
Identify her/his entrepreneurial qualities and support your answer based on what you observed
zzz [600]
The main <span>qualities of real entrepreneur are:
1) </span>spiritual freedom and energy;
2) willpower;
3) ability to effectively negotiate and convince partners and customers;
4) organizational skills;
5) determination and willingness to situations of risk.
7 0
3 years ago
How should you use operating costs when calculating incremental cash flows?
USPshnik [31]

Answer:

Subtract operating costs, calculate taxes off of that number, and then add them back.

Explanation:

The computation of the operating cash flow is shown below:

= Earning before interest and taxes + Depreciation - Income tax expense  

where,  

Earning before interest and taxes = Sales - cost of good sold - depreciation expense

While calculating the incremental cash flows we deduct the operating cost, depreciation, tax expense and then added back the depreciation expense as it is a non cash expense

3 0
3 years ago
Other questions:
  • There are many biological theories of crime. Which theory addresses issues such as hormones, brain structure, and brain chemistr
    9·1 answer
  • Target Costing Oregon Equipment Company wants to develop a new log-splitting machine for rural homeowners. Market research has d
    9·1 answer
  • What does the points do
    13·1 answer
  • Charlie and Samantha are resident aliens, married, and want to file a joint return. They have three children. Harry is 8 years o
    12·1 answer
  • Period costs for a manufacturing company would flow directly to:
    13·1 answer
  • Kevin's boat was wrecked by hurricane Harvey (a federally declared natural disaster). Damage to the boat was estimated at $30,00
    11·1 answer
  • If Amy painted 8 walls in the first hour of work, and then switched to doing 6 outlets in the second hour of work, what was the
    12·1 answer
  • True or False: An individual investor is more likely to engage in foreign direct investment than a corporation. True False
    9·1 answer
  • Investor A has an initial wealth of $100 and a utility function of the form: U(w) = log(w) where w is her wealth at any time. In
    10·1 answer
  • This week, you will be drafting an ATS resumé (applicant tracking system), and a cover letter. Discuss your experience with thes
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!