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Ryan, an employee, lives and works in Chicago. Ryan travels to Las Vegas on Tuesday. On the next day, he meets with two customers for most of the day. Beginning on Thursday through Sunday he spends his time at a number of casinos without conducting any business. On Sunday he travelled to Grand Canyon again without conducting business. On Tuesday he traveled back to Vegas and flew back to Chicago.

Ryan incurs the following expense for the Vegas trip

Hotel-------------$1000($125 per night)
Meals------------$900($100 per day)
Airfare to and from Vegas-------$500
Entertaining Customers---------$800
Taxis/Transportation----------$405($45 per day)

Ryan is not reimbursed by his employer. None of the expenses are lavish or extravagant and all are properly substantiated. Ryan expects to be able to deduct all of the expense of this trip.

Required: Describe in detail the type and amount of deductions that Ryan may claim if any.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M946110

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