Chapter 4 Homework[1] - 2..,CA,,to .Onthetrip, Car

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2. Joan is a self-employed attorney in New York City. Joan took a trip to San Diego, CA, primarily for business, to  consult with a client and take a short vacation. On the trip, Joan incurred the following expenses: Airfare to and from San Diego  $ 575  Hotel charges while on business     340  Meals while on business      210 Car rental while on business     120  Hotel charges while on vacation      460 Meals while on vacation                290 Car rental while on vacation     180               Total               $2,175 Calculate Joan’s travel expense deduction for the trip, assuming the trip was made in 2009. Airfare to and from San Diego  $ 575  Hotel charges while on business     340  Meals while on business      210  Car rental while on business     120 Total              $1,245 Final answer is: $1,140.  Meals while on business are only deductible at 50%. .............................................................................................................................................. 7. Cindy operates a computerized engineering drawing business from her home. Cindy maintains a home office and  properly allocates the following expenses to her office: Depreciation          $1,500 Utilities                     500 Real estate taxes                      325 Mortgage interest (100% deductable)                500
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a. Assume that Cindy earns income of $2,400 from her business for the year before deducting home  office expenses. She has no other expenses associated with the business. Calculate Cindy’s  deduction for home office expenses.  Gross Income from business 2400 Less: Depreciation 1500
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