Question

Jack is a lawyer who is a member at Ocean Spray Country Club where he spends $7,200 in dues, $4,000 in business meals, and $2,000 in green fees to entertain clients. He has separate invoices for the meals. He is also a member of the local Rotary club where he meets potential clients. The dues for the Rotary club are $1,200 a year. How much of the above expenses can Jack deduct as business expenses

Answer 1

Step-by-step explanation:

Ocean spray country club = $7200

Business Meals = $ 4000

Entertainment = $2000

Rotary Club Dues = $1200

Business Expenses = 50% (4000 + 2000) +1200

= 3000 +1200

= $4200