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1. Fred travels from Denver to Miami primarily on business. He spends five days conducting...

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1. Fred travels from Denver to Miami primarily on business. He spends five days conducting business and two days sightseeing. His expenses are $400 (airfare), $150 per day (meals), and $300 per night (lodging). What are Fred's deductible expenses? 2. Robert entertains four key clients and their spouses at a nightclub. Substantive business discussions occurred over dinner and prior to the entertainment beginning. Expenses were $200 (limo charge), $120 (cover charge), $700 (drinks and dinner), and $140 (tips to servers). If Robert is self-employed, how much can he deduct for this event? 3. Cindy maintains an office in her home that comprises 8% (200 square feet) of total floor space. Gross income for her business is $42,000, and her residence expenses are as follows: Real Property taxes $2,400 Interest on mortgage 4,000 Operating Expenses 2,200 Depreciation (based on 8% use) 450 What is Cindy's office in the home deduction based on: a. The regular method? b. The simplified method

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