Toby,a Single Taxpayer with No Dependents,is an Employee of a Large

question 142

Multiple Choice

Toby,a single taxpayer with no dependents,is an employee of a large consulting firm.During the year he incurs the following business expenses that are not reimbursed by his employer: ​
Toby's AGI is $100,000 and is in the 28% marginal tax rate.In addition to the expenditures described above,his only other qualified itemized deductions are home mortgage interest of $6,000 and property taxes of $2,000.What is the after-tax cost to Toby of his unreimbursed employee business expenses?

• A)$- 0 -
• B)$5,600
• C)$6,088
• D)$6,508
• E)$7,600

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Definitions:

Recording Studio

A facility equipped for recording sounds, including music and vocals, often used by musicians and artists to produce albums or singles.

Business Office

A dedicated space where administrative tasks and professional operations related to a business are conducted.

Correctly Punctuated

Text that uses punctuation marks accurately to clarify the meaning and enhance readability.

Neat Pile

A carefully arranged stack of items where everything is orderly placed.