Peter is a self-employed attorney. He gives the following information about his business to his CPA for use in preparing his 2016 tax return:
Peter also drove his car 5,528 miles for business and used the standard mileage method for computing transportation costs. How much will Peter show on his Schedule C for 2016 for:

a.Income
b.Tax deductible expenses
c.Taxable income

Question

Peter is a self-employed attorney. He gives the following information about his business to his CPA for use in preparing his 2016 tax return:
Peter also drove his car 5,528 miles for business and used the standard mileage method for computing transportation costs. How much will Peter show on his Schedule C for 2016 for:
  
a.Income
b.Tax deductible expenses
c.Taxable income

Quizplus · Accepted Answer

The Answer of Peter is a self-employed attorney. He gives the following information about his business to his CPA for use in preparing his 2016 tax return:
Peter also drove his car 5,528 miles for business and used the standard mileage method for computing transportation costs. How much will Peter show on his Schedule C for 2016 for:
  
a.Income
b.Tax deductible expenses
c.Taxable income

Peter Is a Self-Employed Attorney