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Gabby operates a pizza delivery service. This year, she paid delivery personnel $18,000 in salary. She carefully documented the business use of the auto (11,700 miles this year), and her $7,350 of vehicle expenses (for gas, oil, repairs, and auto lease payments). What amount of these expenses may Gabby deduct as business expenses? Gabby is on the cash method and calendar year.
Insured
A person or entity covered under an insurance policy, providing protection against specified risks or losses.
Taxable Income
Income subject to tax, after deductions and exemptions, according to federal or state law.
Alimony Payments
Payments made to a spouse or former spouse under a divorce or separation agreement, possibly subject to special tax treatment.
Child Support Payments
Child Support Payments are periodic payments made by a noncustodial parent to support a child’s living expenses after a divorce or separation.
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