This year, Gaston recorded the following donations:   $500 i…

This year, Gaston recorded the following donations:   $500 in cash to a family in needStock purchased many years ago for $2,000, but now worth $14,000, to a church$300 in cash to a political campaignHousehold items that originally cost $1,200, but are now worth $100, to a public charity   What is Gaston’s maximum allowable charitable contribution before any AGI limitations?

This year, Alex had expenditures for medical expenses as fol…

This year, Alex had expenditures for medical expenses as follows:   Emergency room visit $8,000Dental work paid to an orthodontist$3,000Hearing aids$1,000Prescription medications$700   Alex has $60,000 of AGI and the AGI floor in effect for the current year is 7.5 percent. After any AGI limitations, what amount of medical expenses may Alex deduct as an itemized deduction?

Immediately following a sales meeting with a prospective cli…

Immediately following a sales meeting with a prospective client this year, Martin took the client to a Tampa Bay Rays game. Food and drinks were served in the stadium suite. Business was discussed at the baseball game. On separate bills, Martin paid $200 for the food and drinks and $300 for seats at the baseball game. What amount of these expenditures may Martin deduct as a business expense?