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Augustus1 Augustus1
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6 years ago
Joe is a self-employed tax attorney who frequently entertains his clients at his country club. Joe's club expenses include the following:

Annual dues   $ 5,400
Initiation fees   1,200
Charges for personal meals with his family   3,100
Meal and entertainment charges related to business use   4,000

Assuming the business meals and entertainment qualify as deductible entertainment expenses, Joe may deduct
A) $2,000.
B) $4,700.
C) $5,300.
D) $4,000.
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
Authors:
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We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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MsLippyMsLippy
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#1
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6 years ago
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More solutions for this book are available here
A
Provide this reason if asked:  He gets no deduction for the dues, initiation, or the personal meals. Business meals are 50% deductible. ($4000 × .50) = $2,000.
1

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Augustus1 Author
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#2
6 years ago
Your explanation helped, amazing amazing!
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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