During the year, John, a sole proprietor, went from Milwaukee to Alaska on business. Preceding a five-day business meeting, he spent four days vacationing at the beach. Excluding the vacation costs, his expenses for the trip are: Air fare $3,200 Lodging 900 Meals 1,400 (just meals, no entertainment value in these meals) Presuming no reimbursement, deductible expenses are: a. $3,200. b. $3,900. c. $4,800. d. $5,500. e. $0, unreimbursed business expenses are not deductible from 2018 - 2025

Ann and jack have been partners for several years. their​ firm, a​ & j tax​ preparation, has been very​ successful, as the pair agree on most​ business-related questions. one​ disagreement, however, concerns the legal form of their business. for the past two​ years, ann has tried to convince jack to incorporate. she believes that there is no downside to incorporating and sees only benefits. jack strongly​ disagrees; he thinks that the business should remain a partnership forever. ​ first, take​ ann's side, and explain the positive side to incorporating the business. ​ next, take​ jack's side, and state the advantages to remaining a partnership. ​ lastly, what information would you want if you were asked to make the decision for ann and​ jack? which of the following statements are the advantages of a partnership compared to a​ corporation? ​(choose all that​ apply.) a. less expensive to organize. b. ownership is readily transferable. c. lower income taxes. d. owners have limited liability. e. long life of firm.