- 5 -
Supplies 633 390 0 0
Taxes & licenses 120 0 0 0
Travel 489 200 2,751 2,940
Meals & entertainment 100 210 704 1,400
Utilities 725 0 0 0
Business cards 47 0 0 0
Dues & publications 72 53 0 0
Setup fees 0 300 0 0
Telephone 0 545 915 947
Small tools 0 200 838 900
Vendor fees 0 734 0 0
P.O. Box 0 25 0 0
Donations 0 2,000 0 0
Conference/training 300 958 0 0
Miscellaneous 612 150 530 176
Professional services 1,100 400 1,100 650
Total expenses (12,712) (8,054) (8,210) (13,782)
Net profit (16,470) (10,909) 9,457 8,956
In the notice of deficiency for 1993, respondent disallowed
petitioner's cost of goods sold reduction to gross receipts
related to petitioner's wholesale activity to the extent that the
reduction exceeded gross receipts of $2,000. For the taxable
year 1994, respondent disallowed all petitioner's cost of goods
sold reduction to gross receipts related to petitioner's
wholesale activity. Respondent disallowed all the expenses
associated with petitioner's wholesale activity in 1993 and 1994.
With respect to petitioner's consulting activity, respondent
disallowed $6,029 of expenses deducted by petitioner in 1993 and
all the deductions reported by petitioner in 1994.
On Schedules A, Itemized Deductions, petitioner reported
gifts to charity of $6,150 in 1993 and $6,313 in 1994 for alleged
cash contributions to various organizations. Also on Schedules
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Last modified: May 25, 2011