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Natalija [7]
3 years ago
6

During the current year, Harry, a self-employed accountant, travels from Kansas City to Miami for a seven-day business trip. Whi

le in Miami, Harry decides to stay for an additional 5 days of vacation. Harry pays $600 for airfare, $200 for meals, and $500 for lodging while on business. The cost of meals and lodging while on vacation was $300 and $500, respectively. How much may Harry deduct as travel expenses for the trip?
Business
1 answer:
irakobra [83]3 years ago
4 0

Answer:

$1,200

Explanation:

during 2019, Harry can deduct:

  • 50% of the costs of meals while on he is on business trips
  • 100% of airfare and other travelling costs
  • 100% of lodging costs while doing business

Harry's deductions = (50% x $200) + (100% x $600) + (100% x $500) = $100 + $600 + $500 = $1,200

Any expenses incurred during vacation are not deductible.

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C:an increase in both the inflation and real growth rates in the short run.

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According to the AD-AS model, if the economy is initially at its long-run potential growth rate, then a temporary increase in the growth rate of investment spending will cause an increase in both the inflation and real growth rates in the short run.

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Scilla [17]

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Compute the 2019 Federal income tax liability and the marginal and effective tax rates in each of the following independent case
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Answer:

  • Tax liability = $24,222.50
  • Marginal rate = 24%
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Explanation:

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5 0
2 years ago
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Answer:

C) home-country-based

Explanation:

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