BUSINESS HIGH SCHOOL

Lara uses the standard mileage method for determining auto expenses. During 2019, she used her car as follows: 9,000 miles for business, 2,000 miles for personal use, 2,500 miles for a move to a new job, 1,000 miles for charitable purposes, and 500 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: a. Business? b. Charitable? c. Medical?

Answers

Answer 1

Answer:

Answer:

The answers are:

A) $5,220

B) $140

C) $100

Explanation:

The IRS mileage deduction rate for 2019 (Notice 2019-02):

58 cents per mile for business miles driven
20 cents per mile driven for medical or moving purposes
14 cents per mile driven in service of charitable organizations

A) Business mileage deductions:

9,000 miles x $0.58 per mile = $5,220

B) Charitable mileage deductions:

1,000 miles x $0.14 per mile = $140

C) Medical mileage deductions:

500 miles x $0.20 per mile = $100

Related Questions

The price of money borrowed or saved is called _____. interest loan money supply
Connie lost her wallet that contained a bank debit card. What is the maximum amount Connie would be responsible for if someone uses her debit card before she can report it missing? $50 $75 $100 $150
Discuss the impact of technological forces and political and legal forces on the market.
In economic terms, marginal is another word for which of the following?a. Outside b. Rare c. Additional d. Boundaries
What are needs?A. Emotions that are related to the features and benefits of a product or serviceB. The desires and fears of a particular target marketC. Things that people consider necessary to maintain their lifestyle or quality of lifeD. Things that people want to have in order to be happy and feel good

Replacing a good with a similar good because of a change in prices is an example of the .

Answers

Answer : substitution effect

In economics, substitution effect refers to the process of replacing a good with a similar good because of a change in the price. This is based on the assumption that as prices change or increase, consumers would decide to look for cheaper items or the low-cost alternatives thus resulting to the change of merchandise or the products. The substitution effect may give an advantage especially to retailers however, in the general picture it provides a disadvantage as it will limit the choices.

Do you think expenditure on road building and maintenance is an on-budget or off-budget expenditure?

Answers

Assuming that you're talking about the Federal's budget, road building and maintenance is an On-Budget expenditure

On-budget expenditures are those that included in regular annual budget,

meanwhile off-budget expenditures are those that included in regular annual budget

Maintaining public utilities to ensure people's safety is included on annual budget

Why must old currency be taken out of circulation When new currency is made?

Answers

If there are too many units of any currency in circulation, this will cause an over-abundance of currency which will lead to inflation where value is lost. Retaining old currency will lead to confusion, so it's important that when a new currency is introduced a deadline is imposed on when an old currency must be used or exchanged by.

Answer:

C Too much currency in an economic system will cause inflation

Is the method used to determine the number of units a firm must sell at a specific price to cover all costs.Answer
Fixed-cost pricing
Incremental analysis
Breakeven analysis
Ratio analysis

Answers

That method is called the Breakeven analysis

It basically used to determine at which point will your business start to cover all the expense and start to gain profit

In startups, the faster your business reach breakeven point, the more investors will be interested to invest in your business

Betty and john martinez own 220 shares of exxonmobil common stock. exxonmobil's quarterly dividend is $1.76 per share. what is the amount of the dividend check the martinez couple will receive for this quarter?

Answers

The amount they will receive for this quarter is 125

When selecting a career you should consider all of the following, EXCEPT: a. what others think b. your skills and interests c. desired lifestyle d. how much education is required

Answers

When selecting a career you should consider all of the following except what others think Option(a) is correct.

What is a Career?

The career is a person's allegorical "venture" through learning, work and different parts of life as and when required.

A career can be characterized as the succession and assortment of occupations embraced for a critical time of an individual's life and with valuable open doors for progress. All the more extensively, 'career ' incorporates life jobs, relaxation exercises, learning.

There are many advantages to having a career reason. In the first place, it will move you to do and be more in your work, which will illuminate you and make your life wake up. You'll gain more headway in your career as well, since you're locked in and keen on the thing you're doing.

Career objectives are targets. Things, positions, circumstances connected with your expert life that you have focused on accomplishing. They can be present moment, such as getting an advancement or certificate, or they can be long haul.

Therefore Option(a) is correct.

Learn more about Careers here:

brainly.com/question/18764121

#SPJ2

A) what others think. Your career is a part of your life, not theirs. You should follow your gut when choosing your occupation, and do what YOU want. You are in control of your career, and whether it will be a successful one.

Other Questions

A line joining the places with equal heights is called

Fact Pattern 10-1 Ambrose enters into a contract to buy 350 acres from Belle Vista Farms to cultivate grapes and open a winery. Refer to Fact Pattern 10-31 If Ambrose breaches the contract, Belle Vista's remedy would most likely be________.

Monetary Policy in Flosserland: In Flosserland, the Department of Finance is responsible for monetary policy. Flosserland has had an inflation rate of 25% for many years.Refer to Monetary Policy in Flosserland. Suppose Flosserland has had the same inflation rate for a long time. Which, if either, of the following ideas imply that the unemployment rate in Flosserland would be above the natural rate.a) both the Classical dichotomy and the long-run Phillips curveb) the Classical dichotomy, but not the long run Phillips curvec) the long-run Phillips curve, but not the Classical dichotomyd) neither the long-run Phillips curve nor the Classical dichotomy

on january 1, 2016, the holloran corporation purchased a machine at a cost of $55,000. the machine was expected to have a service life of 10 years and a $5,000 residual value. the straight-line depreciation method was used. in 2018 the estimate of residual value was revised from $5,000 to zero. depreciation for 2018 should be: