$1,000 to UCLA for the right to purchase great season to its football and basket
ID: 2409259 • Letter: #
Question
$1,000 to UCLA for the right to purchase great season to its football and basketball games. Calculate the portion of Christian's itemized deduction related to charitable contributions. Maria is a self-employed attorney. Her husband's only work is staying home to care for their children. They're married and file their taxes jointly. Place an A next to above the line (i.e. for AGI) deductions and an I next to itemized deduction (i.e. from AGI) and an X next to non- deductable expenditures: $650 dues to California Bar Association for her license to practice law $2,400 for accountant to bill her clients and keep financial records related to her law practice. $500 interest on her business credit card, which is used only to pay for legitimate expenses of practicing law, like purchasing office supplies. Medical insurance for Maria, her family, and her only full time employee, a paralegal. Maria's half of FICA for the paralegal. Education expense required by California to keep her law license. 9 of 13Explanation / Answer
I - $650 dues to California Bar Association for her license to practice law
A - $2400 for accountant to bill her clients and keep financial records related to her law practice. this is a business expenses and deductible for AGI.
A - $500 interest on business credit card. This is also a business expense.
A - Medical Insurance for Maria, her family and her only full time employee, a paralegal.
A - Maria's half of FICA for the paralegal.
I - Education expenses required by California to keep her law license.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.