During the Current Year, Harry, a Self-Employed Accountant, Travels from Kansas

question 40

Multiple Choice

During the current year, Harry, a self-employed accountant, travels from Kansas City to Miami for a seven-day business trip. While in Miami, Harry decides to stay for an additional 5 days of vacation. Harry pays $600 for airfare, $200 for meals, and $500 for lodging while on business. The cost of meals and lodging while on vacation was $300 and $500, respectively. How much may Harry deduct as travel expenses for the trip?

• A)$600
• B)$1,100
• C)$1,200
• D)$1,300
• E)None of these

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Definitions:

Sales

The activities related to selling or the number of goods or services sold in a given time period.

Gas Mileage

A measurement of how many miles a vehicle can travel on a gallon of fuel.

Speed

The rate at which an object covers distance, typically measured in units of distance over time.

Car

A wheeled vehicle used for transporting passengers, which also carries its own engine or motor.