Post a New Question

managerial economic

posted by .

. A doctor spent two weeks doing charity medical work in Mexico. In calculating her taxable income for the year, her accountant deducted as business expenses her round-trip airline ticket, meals, and a hotel bill for the two weeks stay. she was surprised to learn that the accountant following IRS rules, could not deduct as a cost of the trip the $8.000 of the income she lost by being absent from her medical practice for two weeks. She asked the accountant, "since lost income is not deductible as an expense, should I ignore it when I make my decision next year to go to Mexico for charity work" Can you give the doctor some advice on decision making?

Answer This Question

First Name:
School Subject:

Related Questions

More Related Questions

Post a New Question