Exercise 9-13 (Algorithmic) (LO. 2) Lara uses the standard mileage method for determining auto expenses....
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Exercise 9-13 (Algorithmic) (LO. 2) Lara uses the standard mileage method for determining auto expenses. During 2020, she used her car as follows: 20,600 miles for business, 4,120 miles for personal use, 6,180 miles for a move to a new job, 2,060 miles for charitable purposes, and 1,030 miles for medical visits. Presuming that all the mileage expenses are allowable (i.e., not subject to percentage limitations), what is Lara's deduction for: If required, round your answers to the nearest dollar. a. Business? $ b. Charitable? $ c. Medical? Problem 9-31 (Algorithmic) (LO. 5) Stork Associates paid $57,000 for a 20-seat skybox at Veterans Stadium for eight professional football games. Regular seats to these games range from $85 to $255 each. At one game, an employee of Stork entertained 18 clients. Stork furnished food and beverages for the event at a cost of $3,800. The game was preceded by a bona fide business discussion, and all expenses are adequately substantiated How much may Stork deduct for this event
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