Our Blog – More About our Services

During the year, Kristen holds two jobs. After an eight hour day at the first job, she works three hours at the second job. On Fridays of each week, she returns home for dinner before going to the second job. On the other days (Monday through Thursday), she goes...

Marlo is employed as a full time high school teacher. The school district where he works recently instituted a policy requiring all of its teachers to start working on a master’s degree. Pursuant to this new rule, Marlo spent most of the summer of 2012 taking graduate...

In each of the following independent situations, determine how much, if any, qualifies as a deduction for AGI under § 222 (qualified tuition and related expenses): a. Sophia is single and is employed as an architect. During 2012, she spends $3,900 in tuition to attend...

Dexter is a licensed commercial pilot who works for Kite Charter Jet Service. Typically, Dexter, who lives near the airport, flies a charter out of Frankfort, Kentucky, to either Las Vegas or Reno, spends several nights there, and then returns home with the same...

During the current year, Paul, the vice president of a bank, made gifts in the following amounts: To Sarah (Paul’s personal assistant) at Christmas $36 To Darryl (a key client)—$3 was for gift wrapping 53 To Darryl’s wife (a homemaker) on her birthday 20 To Veronica...

Melanie is employed full time as an accountant for a national hardware chain. She also has a private consulting practice, which provides tax advice and financial planning to the general public. For this purpose, she maintains an office in her home. Expenses relating...

Answer the following independent questions with respect to traditional IRA contributions for 2012: a. Juan, age 41, earns a salary of $28,000 and is not an active participant in any other qualified plan. His wife, Agnes, has no earned income. What is the maximum total...

Charles has AGI of $94,000 during the year and the following expenses related to his employment: Lodging while in travel status $5,000 Meals during travel 4,000 Business transportation 6,000 Entertainment of clients 3,800 Professional dues and subscriptions 800...

During the year, Brenda has the following expenses related to her employment: Airfare $8,500 Meals 4,000 Lodging 4,900 Transportation while in travel status (taxis and limos) 940 Entertainment of clients 8,000 Although Brenda renders an adequate accounting to her...