cti 28 Which of the following is likely to be a fully deductible business a. Cam
ID: 2518021 • Letter: C
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cti 28 Which of the following is likely to be a fully deductible business a. Campaign contributions in exchange for city contracts b. The cost of employee uniforms that can be adapted to ore e. A speeding fine paid by a trucker who was deliv d. Reasonable salaries in excess of the industry average paid to attrac employees e. None of these is likely to be deductible ering a rush order taxpayers are subject to (or ne sube ould explain why a large number of taxpayers are subject to for could become subject to) AMT? a. Regular tax rates have decreased since the AMT was enacte b. The AMT exemption amount is indexed to increase with inflation c. Property values are decreasing d. Congress prefers AMT tax e. The personal and dependency exemption amounts are not increasing as fast as the AMT exemption is decreasing 30. Harriet operates a landscaping service. This year she paid irrigation personnel $22.000 in salary. She carefully documented the business use of the auto (11.600 miles this year) and her $7,350 of vehicle expenses (for gas, oil, repairs, and auto lease payments). She also had $4.200 in materials costs. What amount of these expenses may Harriet deduct as business expenses? Harriet is on the cash method and calendar year. a. $26,200 b. $32,406 c. $29,350 d. $33,550 e. $28,206Explanation / Answer
28) Option (D) Reasonable Salaries in excess of the industry average paid to attract talented employees.
29) Option (A) Regular tax rates have decreased since the AMT was enacted
30) Option (D) 33,550
22,000 + 7350 + 4200 = 33550
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