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valina [46]
3 years ago
11

Jermaine owns a rental home in Lake Tahoe and traveled there from his home in San Francisco for maintenance and repairs three ti

mes this year. The round trip from San Francisco to Lake Tahoe is approximately 167 miles. How much travel cost can Jermaine deduct for the current year related to the rental home in Lake Tahoe?A. $0.B. $92.C. $278.D. $305.
Business
1 answer:
liraira [26]3 years ago
3 0

Answer:

No answer is correct.

If we use the values set by the IRS for 2019, the total travel costs deduction = $290.58.

If we use the 2018 value, the total travel costs deduction = $273.05

Explanation:

The new mileage reduction set by the IRS for 2019 is 58 cents (up from 54.5 cents) per mile. Since Jermaine had to travel 3 times during the year and drove for 167 miles, his total deduction should be:

  • total travel costs deduction = 3 x 167 x $0.58 = $290.58

If we use the 2018 deduction rates, Jermaine's total travel deduction will be:

  • total travel costs deduction = 3 x 167 x $0.545 = $273.05

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Answer:

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Even though the fixed interest rate might be higher, it will not change and that  guarantees that you will always pay the same amount and that you can prepare your personal budget to cover it.

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3 years ago
The theory that higher-income taxpayers should be taxed less because their savings and investments stimulate the economy is know
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Answer:

The correct answer is: supply side economics.

Explanation:

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How much are you willing to pay for one share of LBM stock if the company just paid an annual dividend of $2.24, the dividends i
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Answer:

$18.33

Explanation:

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Therefore the price that will be paid for one share of LBM stock can be calculated as follows

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7 0
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Consider the futures contract written on the S&P 500 index and maturing in one year. The interest rate is 4.2%, and the futu
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Answer:

$1,534.372

Explanation:

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To improve the effectiveness of the marketing control process, the marketing manager should?
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Answer:

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