0 Required information [The following information applies to the questions displ

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0 Required information [The following information applies to the questions displayed below] Melissa recently pald $875 for round-trip airfare to San Frandisco to attend a business conference for three days. Melissa also paid the following expenses: $280 fee to register for the conference, $435 per night for three nights' lodging, $275 for meals, and $235 for cab fare. (Leave no answers blank. Enter zero if applicable.) (Round your answer to the nearest doller amount.) ert 1 of 4 13 nts a. What amount of the travel costs can Melissa deduct as business expenses? eBook Print 2,833 eferences

Explanation / Answer

a. Amount of Travel Cost deductible as Business Expense is $ 2,833. Airfare $           875 Registeration for Conferrence $           280 Lodging Fees ($ 435 X 3 nights) $       1,305 Meals ($ 275 X 50%) $           138 Cab fare $           235 Total $       2,833 b. Deductible Amount = $ 2,833 Since, the main purpose of the trip was on Business Purpose, Any sightseeing would not be considered deductible. So the Cost of Sightseeing is $ 0 but the cost of $ 2,833 are deductible, because they are business expense and relates to the main purpose of the trip. c. Deductible Amount = $ 1,958 The deductible amount would be any air related expense Except for the Airfare. So Deductible amount is $ 2,833- $ 875 ( airfare ) = $ 1,958 d. Deductible Amount = $ 524 Business Expense would be calculated as follows: Conference Registration $     280.00 Mileage Deduction ( 144 miles X *0.545) $       78.48 Parking Fees $     166.00 Total $           524 *Standard mileage rate taken is 54.5 cents/mile.

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