1. Ramon and Ingrid work in the field of public relations and incur sizable entertainment expenses. Ramon is employed by a consumer products company, while Ingrid is a self-employed consultant. Regarding the tax treatment of the entertainment expenses, when would: a. Ramon be better off than Ingrid? b. Ingrid be better off than Ramon? . 2. The services are performed at Sue’s premises. 3. Sue does not work for other parties. 4. Lynn determines when the services are to be performed. 5. Sue has unreimbursed expenses. 6. by Lynn. 7. helpers. 8. Sue charges by the hour for her work. 9. Sue files a Form 2106 with her Form 1040. 10. Sue files a Schedule SE with her Form 1040. 11. Sue uses her own tools. Match the statements that relate to each other. (Note: Choice L may be used more than once.) a. Must involve the same trade or business b. Must be for the convenience of the employer c. Meals while in route d. Lodging while in route e. Out-of-town job assignment lasts for more than one year f. Can include actual cost of parking g. Payment for services rendered based on tasks performed h. Excludes use of MACRS depreciation i. Taxpayer has tools and helper provided for him j. Transportation must be allocated if taxpayer spends two weeks on business and one week sightseeing k. Paralegal obtains a law degree l. Correct match not provided 12. Characteristic of a taxpayer who has the status of an employee 13. Characteristic of a taxpayer who is self-employed 14. Actual cost method of determining auto expense 15. Automatic mileage method 16. Deductible moving expense 17. Nondeductible moving expense 18. Mixed use (both business and pleasure) foreign travel 19. Education expense that is notdeductible to maintain or improve existing skills 20. Tax home has changed
1.
Ramon and Ingrid work in the field of public relations and
incur sizable entertainment expenses. Ramon is employed by a consumer products
company, while Ingrid is a self-employed consultant. Regarding the tax
treatment of the entertainment expenses, when would:
a.
Ramon be better off than Ingrid?
b.
Ingrid be better off than Ramon?
.
2.
The services are performed at Sue’s premises.
3.
Sue does not work for other parties.
4.
Lynn determines when the services are to be performed.
5.
Sue has unreimbursed expenses.
6.
by Lynn.
7.
helpers.
8.
Sue charges by the hour for her work.
9.
Sue files a Form 2106 with her Form 1040.
10.
Sue files a Schedule SE with her Form 1040.
11.
Sue uses her own tools.
Match the
statements that relate to each other. (Note: Choice L may be used more than
once.)
a. Must involve the same
trade or business
b. Must be for the
convenience of the employer
c. Meals while in route
d. Lodging while in
route
e. Out-of-town job
assignment lasts for more than one year
f.
Can include actual cost of parking
g. Payment for services
rendered based on tasks performed
h. Excludes use of MACRS
depreciation
i.
Taxpayer has tools and helper provided for him
j.
Transportation must be allocated if taxpayer spends two
weeks on business and one week sightseeing
k. Paralegal obtains a
law degree
l.
Correct match not provided
12.
Characteristic of a taxpayer who has the status of an
employee
13.
Characteristic of a taxpayer who is self-employed
14.
Actual cost method of determining auto expense
15.
Automatic mileage method
16.
Deductible moving expense
17.
Nondeductible moving expense
18.
Mixed use (both business and pleasure) foreign travel
19.
Education expense that is
notdeductible to maintain or improve existing skills
20.
Tax home has changed
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