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25 April, 13:38

Bob is a self-employed lawyer and is required to take a week of continuing legal education every year to maintain his license. This year he paid $1,150 in course fees for his continuing legal education in a different city. He also paid $354 for airfare and a hotel room and paid $234 for meals. What is the total amount he can deduct on his Schedule C related to these expenses?

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  1. 25 April, 14:00
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    total amount = $1621

    Explanation:

    given data

    course fees for continuing legal education = $1,150

    airfare and a hotel room = $354

    meals = $234

    solution

    as here Bob only deduct half of meal expenditure on business trip because as per the law only 50 % expenses is allowable for food

    so amount deduct = 0.50 * $234 = $117

    and

    airfare is expense is fully allowable

    so amount deduct able = 100% * $354 = $354

    and

    professional expenses are also allowable so

    so amount deduct able = 100% * $1,150 = $1150

    so total amount deduct able expenditure under schedule C is

    total amount = $117 + $354 + $1150

    total amount = $1621
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