Barry is a self-employed attorney who travels to New York on a business trip during the year. Barry's expenses were as follows: How much may Barry deduct as travel expenses for the trip?

Question

Quizplus · Accepted Answer

According to the IRS guidelines, self-employed individuals can deduct expenses for business-related travel. In this case, Barry's expenses for airfare, lodging, and meals are all eligible for deduction. However, the cost of his personal side trip to see a Broadway show is not deductible. Therefore, Barry may deduct $1,000 as travel expenses for the business trip.

Barry Is a Self-Employed Attorney Who Travels to New York