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The cost of transportation from New York to London for a trip that

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Question

TRUE/FALSE;1. The cost of transportation from New York to London for a trip that is for both business and pleasure may be deducted in full as a travel expense.;2. The cost of safety glasses is deductible by an employee who must wear them on the job.;3. The expense of travel as a from of education is not deductible.;4. A business gift with a value of $35 presented to a client and his non-client spouse is fully deductible by the donor.;5. The standard mileage rate for automobiles for the full year of 2009 is 50.5 cents per mile.;6. For an expense to qualify as a travel expense, the taxpayer must be away from home for a t least 24 hours.;7. The home office deduction is an easy way for a taxpayer to show a loss on his or her tax return.;8. The cost of a subscription to the New England Journal of Medicine is a deductible expense for a hospital intern.;9. The cost of a blue wool suit for an accountant is a deductible expense.;10. A gift to a foreman by a worker is considered business related and therefore subject to the $25 limit.

 

Paper#27265 | Written in 18-Jul-2015

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