Questions: Matt is an independent contractor in 2023-Matt attends a professional meeting and two days vacationing before the meeting. Matt's total expenses for the entire five days include the following: Requirement a. How much can Matt deduct for business-related expenses for 2023? (Complete all input fields. Enter a " 0 " for any zero amounts.) Airfare Meals Hotel Entertainment of customers (business is discussed) Expenses Airfare to and from LA Meals (68 per day) Total Airfare to and from LA 500 Meals ( 68 per day) 340 Hotel (110 per day) 550 Entertainment of customers (business is discussed) 450 Total 1,840

To determine how much Matt can deduct for business-related expenses in 2023, we need to consider the IRS rules for deducting travel and entertainment expenses for independent contractors. Here’s a breakdown of the expenses and the applicable deductions:

1. Airfare: Since Matt is attending a professional meeting, the airfare to and from LA is fully deductible as a business expense. Therefore, Matt can deduct the full $500.

2. Meals: The IRS allows a 50% deduction for meals related to business travel. Matt spent $68 per day on meals for five days, totaling $340. However, only the meals for the days related to the business meeting are deductible. Assuming the meeting lasted one day, Matt can deduct 50% of $68 for that day, which is $34.

3. Hotel: The hotel expenses are deductible for the days related to the business meeting. Assuming the meeting lasted one day, Matt can deduct $110 for that day.

4. Entertainment of customers: The IRS allows a 50% deduction for entertainment expenses if business is discussed. Therefore, Matt can deduct 50% of $450, which is $225.

Now, let's calculate the total deductible expenses:

• Airfare: $500
• Meals: $34
• Hotel: $110
• Entertainment: $225

$500 (Airfare) + $34 (Meals) + $110 (Hotel) + $225 (Entertainment) = $869

Therefore, Matt can deduct a total of $869 for business-related expenses in 2023.