8. List three items that Â§ 162 specifically excludes from classification as a trade or business expense.9. LO.1 In the determination of whether a business expense is deductible, the reasonableness requirement applies only to salaries. Evaluate this statement.10. LO.1 Dave uses the second floor of a building for his residence and the first floor for his business. The uninsured building is destroyed by fire. Are the tax consequences the same for each part of the building? Explain.11. LO.1 Mary Kate owns a building that she leases to an individual who operates a grocery store. Rent income is $10,000, and rental expenses are $6,000. On what Form 1040 schedule or schedules are the income and expenses reported?12. LO.2 What is the âactually paidâ requirement for the deduction of an expense by a cash basis taxpayer? Does actual payment ensure a deduction? Explain.13. LO.2 Aubry, a cash basis and calendar year taxpayer, decides to reduce his taxable income for 2013 by buying $65,000 worth of supplies for his business on December 27,2013. The supplies will be used up in 2014.a. Can Aubry deduct the expenditure for 2013?b. Would your answer in part (a) change if Aubry bought the supplies because the seller was going out of business and offered a large discount on the price? Explain.14. LO.2 What is the significance of the all events and economic performance tests?15. LO.2 Why is the reserve method not allowed to be used for Federal income tax purposes?16. LO.3 Clear, Inc., is a bottled water distributor. Clearâs delivery trucks frequently are required to park in no-parking zones to make their deliveries. If the trucks are occasionally ticketed, can Clear deduct the fines that it pays? Explain.~~~For this or similar assignment papers~~~
Ordering & Making Payment
Click Order Now/Place and fill the form accordingly then click checkout to be directed to payment preview & payment page. Your payment(which updates the order from pending to in progress) is processed by an encrypted secure system . We accept PayPal, and all cards. No intrusion of personal data.
Writing & Communication Process
We facilitate live chats, messages, and emails where you can communicate with your writer or support to clarify or track order progress
Check your completed orders files section. Download and check if it meets requirement for approval. If any changes are needed, request a revision to be done.
- ~ Strict adherance to the provided instructions.
- ~ Perfectly structured and formatted paper in step with the citation requested.
- ~ Both ENL and ESL writers for all model of students. Proofread, 0% grammar errors
- ~ Scholarly, authoritative and peer reviewed resources use.
- ~ Deadline policy; all papers are delivered hours before the set time in order to permit you to review it before submission.
- ~ We guarantee top quality original content research papers – the final copies are uploaded with their plagiarism reports showing 0% similarity index or your money back.
- ~ 100% privacy of all our customer’s personal and financial data – the payment system is encrypted thus your card data is kept safe from fraud and external intrusion. It’s only you that can access your account with us using a username and a password.
“Welcome to the bishops of hope”