Kelly is a self-employed tax attorney whose practice primarily involves tax planning. During the year, she attended a three-day seminar regarding new changes to the tax law. She incurred the following expenses: Lodging Meals Course registration Transportation $ 460 81 Total deduction 410 210 Required: a. How much can Kelly deduct? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. b. Kelly believes that obtaining a CPA license would improve her skills as a tax attorney. She enrolls as a part-time student at a local college to take CPA review courses. During the current year, she spends $1,800 for tuition and $360 for books. How much of these expenses can Kelly deduct?
Kelly is a self-employed tax attorney whose practice primarily involves tax planning. During the year, she attended a three-day seminar regarding new changes to the tax law. She incurred the following expenses: Lodging Meals Course registration Transportation $ 460 81 Total deduction 410 210 Required: a. How much can Kelly deduct? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. b. Kelly believes that obtaining a CPA license would improve her skills as a tax attorney. She enrolls as a part-time student at a local college to take CPA review courses. During the current year, she spends $1,800 for tuition and $360 for books. How much of these expenses can Kelly deduct?
Chapter26: Tax Practice And Ethics
Section: Chapter Questions
Problem 13DQ
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