2.04.3 Insurance Expenses (3)

Question 問題
Drew, a cash-basis, calendar-year taxpayer, runs an auto repair shop and has a self-employed insurance plan. His wife, Sherry, works for an employer who started health insurance coverage for Sherry and Drew on August 1, 2018. Drew's net profit, before health insurance, was $50,000. Drew paid $500 a month for all 12 months in 2018 for his health insurance plan because of pre-existing illnesses. Drew and Sherry file a joint return. What is the amount of their deduction for self-employed health insurance for 2018?

A. $6,000

B. $3,500

C. $2,450

D. $0

The correct answer is 正解は、[B. $3,500]
= $500 x 7ヶ月（1～7月）
自営業者は自身、配偶者または扶養家族の医療保険料をAGIの上で全額控除できるが、納税者自身または配偶者の勤務先企業が健康保険に加入する資格を得た月から控除できなくなります。

2.04.3 Insurance Expenses (2)

Question 問題
John owned a small advertising company, the operations of which he included on Schedule C of his current-year individual income tax return. What type of insurance may John NOT deduct on his current-year return?

A. Fire, theft, and flood insurance.

B. Employer's liability insurance.

C. Loss of earnings due to sickness or disability.

D. Overhead insurance, which pays John's overhead expenses in the event of his long period of disability caused by his sickness or injury.

The correct answer is 正解は、[C. Loss of earnings due to sickness or disability.]
自営業者自身の病気等による所得補償保険（loss of earnings insurance）は事業経費として控除できません。
事業間接費保険（overhead insurance：経営者が就業不能となっている期間の間接費（従業員の給与、賃借料等）を補償する保険）は事業経費として控除可能。

2.04.3 Insurance Expenses (1)

Question 問題
You operate a business and file your tax return on a calendar-year basis. You bought a fire insurance policy on your building effective November 1, Year 1, and paid a premium of $1,200 for 2 years of coverage. How much can you deduct on your Year 1 return?

A. $1,200

B. $600

C. $100

D. $50

The correct answer is 正解は、[C. $100]
= $1,200 / 24ヶ月 x 2ヶ月（11～12月）
前払保険料は会計主義にかかわりなく原則期間配分しなければなりません。

2.04.2 Travel Expenses (2)

Question 問題
You usually work and live in Springfield, but in March of the current year, you are assigned to a job in Indianapolis for an indefinite 不確定な period of time. How much, if any, of the following monthly expenses can you take as an expense on your current-year tax return?
- Rent $2,500
- Meals $500
- Travel: round-trip airfare to go home each weekend $150

A. $2,650

B. $0

C. $2,750

D. $2,900

The correct answer is 正解は、[B. $0]
不確定な期限、つまり無期限の異動なのですべて出張旅費とはなりません。
1年以下の一時的な異動の場合、旅費は事業経費として控除できます。

2.04.2 Travel Expenses (1)

Question 問題
With regard to deductible travel expenses when attending a convention, 会議に出席する際 all of the following statements are correct EXCEPT:

A. If you can show that your attendance benefits your trade or business, you can deduct your travel expenses if the expenses are reasonable.

B. You cannot deduct expenses for attending a convention, seminar, or similar meeting held outside of the U.S. area unless the meeting is related to your trade or business.

C. If you establish that a meeting held on a cruise ship is directly related to your trade or business, you may be able to deduct expenses of up to $2,000 per trip.

D. The fact that an attending individual uses vacation time does not necessarily 必ずしも negate 無効にする the deduction.

The correct answer is 正解は、[C. If you establish that a meeting held on a cruise ship is directly related to your trade or business, you may be able to deduct expenses of up to $2,000 per trip.]
クルーズ船での会議の旅費は、旅程ごとではなく、年間$2,000が上限となります。
（選択肢 D：出張中に休暇を取ったとしても必ずしも控除が否認されるとは限りません。）

2.04.1 Business Meals Expense (2)

Question 問題
Ms. Patel, a self-employed attorney, is a member of Executive Club, which is a professional business persons' club. Mr. Patel uses the club on a regular basis to entertain clients. Ms. Patel had the following detailed records to substantiate 実証する the expenses of Executive Club during the current year:
- Dues: $2,400
- Meals directly related to bona fide 正真正銘の business discussions with clients: $2,000
- Tips: $400
- Transportation to/from meals: $300
What amount may Ms. Patel deduct on her income tax return for the current year?

A. $5,100

B. $2,600

C. $1,700

D. $1,500

The correct answer is 正解は、[D. $1,500]
= 飲食費（$2,000 + $400）x 50％ + 交通費 $300
エグゼクティブ・クラブの会費は控除不可。

2.04.1 Business Meals Expense (1)

Question 問題
With regard to the directly related test for business meals, which of the following statements is false?

A. If the meal takes place in a clear business setting and is for the taxpayer's business, the expenses are considered directly related.

B. It is necessary to devote 費やす more time to business than to eating during the meal period.

C. The taxpayer is required to show that business income or some other business benefit resulted from each meal expense.

D. A restaurant owner providing an occasional 時折り free meal to a legal customer qualifies 見なされる as directly related.

The correct answer is 正解は、[C. The taxpayer is required to show that business income or some other business benefit resulted from each meal expense.]
飲食による実際の効果を証明する必要はありません。

2.03.5 Taxes (2)

Question 問題
Rudy, a plumber, 配管工 paid the following taxes: $800 on the purchase of a new truck, $1,500 for the current year's property tax, $150 sales tax on miscellaneous office supplies, $600 sales tax on merchandise he purchased for resale. How much can he deduct as a current business expense for tax purposes?

A. $150

B. $1,650

C. $2,250

D. $3,050

The correct answer is 正解は、[B. $1,650]
= $1,500 + $150
自動車取得税と棚卸資産の仕入に係る売上税は、資産計上されます。

2.03.5 Taxes (1)

Question 問題
During 2018, Ms. Smith had the following expenditures relating to commercial real estate she owns:
- County property tax, $1,975
- State property tax, $980
- Assessment for sewer construction, 下水道建設賦課税 $1,500
- Charges for sewer and water service, $810
What is the amount Ms. Smith may deduct as real estate taxes on her commercial real estate for 2018?

A. $2,955

B. $4,455

C. $3,765

D. $5,265

The correct answer is 正解は、[A. $2,955]
= $1,975 + $980 + $810
特別賦課税（special assessment tax）は不動産のbasisに加算し、費用として控除することはできない。

2.03.4 Rent Expense (2)

Question 問題
In 2018, Charlie purchased a lease on an office building for 4 years, beginning January 1. Charlie paid $27,000 in advance rent, of which $3,000 was for the purchase of the existing lease. The remaining was for monthly lease payment. How much can Charlie deduct for 2018?

A. $6,750

B. $0

C. $3,000

D. $9,000

The correct answer is 正解は、[A. $6,750]
= $27,000 / 4年

2.03.4 Rent Expense (1)

Question 問題
Wilma Smith leased a building for 4 years beginning in March of the current year for $1,500 per month. On March 1 of the current year, Mrs. Smith paid her landlord 家主に $33,000 in rent. How much can she deduct on her current-year tax return?

A. $33,000

B. $18,000

C. $0

D. $15,000

The correct answer is 正解は、[D. $15,000]
= $15,000 x 10ヶ月（3～12月）
前払費用は会計主義にかかわなく、原則期間配分しなければなりません。

2.03.3 Interest Expense (1)

Question 問題
On June 30, 2018, Sally who uses the cash method of accounting, borrowed $25,000 from a bank for use in her business. Sally was to repay the loan in one payment with $2,000 interest on December 30, 2018. On December 30, 2018, she renewed that loan plus the interest due. The new loan was for $27,000. What is the amount of interest expense that Sally can deduct for 2018?

A. $0

B. $333

C. $1,000

D. $2,000

The correct answer is 正解は、[A. $0]
利息を含む既存の借入金の返済のために同一の貸主から借り入れを行った場合、既存の借入金に係る利息は控除することができません。

2.03.2 Cost of Goods Sold (2)

Question 問題
XYZ Corporation, a clothing retailer, showed the following expenses in 2018:
Clothing purchased for resale -- $72,000
Freight-in -- $3,550
Freight out to customers -- $1,750
Beginning inventory -- $55,650
Ending inventory -- $42,500
What is XYZ's cost of goods sold?

A. $88,700

B. $175,450

C. $90,450

D. $86,900

The correct answer is 正解は、[A. $88,700]
= $72,000 + $3,550 + $55,650 - $42,500
"Freight-in"は仕入金額に加算しますが"Freight out"は販売費及び一般管理費として処理します。

2.03.2 Cost of Goods Sold (1)

Question 問題
The FX Partnership manufactures garden hoses for sale. In the month of January, its sales were $80,000. During that month, the partnership had:
  Beginning inventory, January 1 -- $0
  Raw materials purchased January 1 -- $35,000
  Raw materials shipping costs -- $1,585
  Direct labor (production) -- $27,000
  Factory overhead -- $6,000
  Ending inventory, January 31 -- $10,000
What is the cost of goods sold for the FX Partnership for the month of January?

A. $58,000

B. $59,585

C. $69,585

D. $53,585

The correct answer is 正解は、[B. $59,585]
= $35,000 + $1,585 + $27,000 + $6,000 - $10,000

2.03.1 Compensation (6)

Question 問題
Which of the following fringe benefits cannot be excluded from an employee's income?

A. Transportation up to $260 per month for combined commuter highway vehicle transportation and transit passes, and $260 per month for qualified parking.

B. Holiday gifts, other than cash, with a low fair market value.

C. Qualified employee discounts given employees on certain property and services offered to customers in the ordinary course of the line of business in which the employees perform services.

D. Memberships in municipal athletic facilities 公営運動施設 for employees, their spouses, and their dependent children.

The correct answer is 正解は、[D. Memberships in municipal athletic facilities for employees, their spouses, and their dependent children.]
事業所内の運動施設の使用は非課税となりますが、公営施設の会費は非課税とはなりません。
参考：Qualified transportaionは2018年は$260まで、2019年は$265まで非課税。

2.03.1 Compensation (5)

Question 問題
Which of the following fringe benefits is NOT excludable from an employee's wages?

A. Qualifying adoption expenses of $13,810 provided through an adoption assistance program.

B. Educational assistance expenses of $5,250 provided through an educational assistance program.

C. $60,000 of group term life insurance covering the death of an employee.

D. Dependent care assistance of $5,000 provided through a dependent care assistance program.

The correct answer is 正解は、[C. $60,000 of group term life insurance covering the death of an employee.]
団体生命保険料の、$50,000を超える保険金に対応する部分は課税対象となります。
参考：Qualifying adoption expenseは2018年は$13,818、2019年は$14,080まで非課税。

2.03.1 Compensation (4)

Question 問題
Ellie operates a restaurant business and Joyce works as a waitress only Monday through Friday from 7 a.m. to 4 p.m. Ellie provides Joyce with a free breakfast and lunch each day, including Saturday and Sunday. Ellie values the breakfast at $5 a day and lunch at $7 a day. How much should Ellie add to Joyce's weekly paycheck for meals that she ate?

A. $0

B. $24

C. $60

D. $84

The correct answer is 正解は、[B. $24]
雇用主から無償で提供される食事は、事業所内で業務上の理由によるもののみ非課税の福利厚生費となる。よって、勤務日以外の食事（土日分）は給与賃金として課税対象となります。

2.03.1 Compensation (3)

Question 問題
Allyn transferred office equipment used in his business to Wilson, an employee, as payment for services. At the time of the transfer, the equipment had a fair market value of $4,000 and an adjusted basis to Allyn of $4,750. how should Allyn report this transfer on his income tax return?

A. Wage expense $4,750; loss on sale $0

B. Wage expense $4,000; loss on sale $750

C. Wage expense $4,000; loss on sale $0

D. Wage expense $0; loss on sale $4,750

The correct answer is 正解は、[B. Wage expense $4,000; loss on sale $750]
現物給与は支払日におけるそのFMVを給与賃金し、FMVとbasisの差額は譲渡損益として認識する。

2.03.1 Compensation (2)

Question 問題
Mr. Holiday is a calendar-year, accrual-basis taxpayer. His records concerning vacation pay for his employees reflect 反映する the following:
- $20,000 paid January 30, 2018, for vacations earned in 2017. Nothing was vested 付与されていない by December 31, 2017.
- $100,000 vacation pay accrued and paid in 2018.
- $14,000 accrued in 2018 but vested by December 31, 2018; paid by February 28, 2019.
- $ 10,000 accrued but not vested by December 31, 2018. 発生したが付与されてない
What amount can Mr. Holiday deduct as a business expense for 2018?

A. $114,000

B. $124,000

C. $120,000

D. $154,000

The correct answer is 正解は、[C. $120,000] = $20,000 + $100,000
休暇手当は発生主義か現金主義かに関わらず、実際に支払った年度に控除ができます。

2.03.1 Compensation (1)

Question 問題
Which of the following tests is NOT used to determine whether an employee's pay is deductible as an expense?

A. Payments for service an employee rendered 従業員が提供したサービスに対する支払い are reasonable. This test is based on the circumstances 状況に基づく at the time you contract for the services, サービスの契約時点 not on those existing when the amount of pay 支払時に存在するもの is questioned. 問われていない

B. Payments for services an employee rendered 従業員が提供したサービスに対する支払い are ordinary and necessary 経常的で必要かつ and are directly or indirectly 直接または間接に connected with your trade or business.

C. Payments are made for services actually performed.

D. Depending upon the taxpayer's method of accounting, 納税者の会計方針に応じて payments are made or expenses are incurred for services rendered during the year.

The correct answer is 正解は、[B. Payments for services an employee rendered are ordinary and necessary and are directly or indirectly connected with your trade or business.]
給与賃金は従業員のサービスが事業に直接関連していなければなりません。