Solutions to Chapter 5 Problems

Airfare $420 Hotel 500 Meals for 4 business days 200 Meals for 2 days visiting friends 80 Gift for customer in Phoenix 80 Gift for friends 30 Rental car for 6 days at $20 per day 120 How much qualifies as deductible travel expenses? Solution: $1,100 deductible travel expenses. The airfare of $420, $500 for the hotel, $100 (50% x $200) for meals ... ................
................