The new tax reform law includes winners and losers. Employers who because of their convenience provided business foods for their employees are losers-50 percent losers to start and then total losers later. • food and meal charges for employees who are required to live on premises for the capability of the employer. Please, be aware that your meals when you are traveling are still only 50% deductible. I also want to clarify a true point that I get asked all the time.
If you are at your office/store and decide to go out and get a bite to eat because you did not bring your lunch/dinner, that’s not taxes deductible. Generally, with no other reasons, this is an individual expense. To become deductible, an expense has to be reasonable and ordinary. If for instance, you have to work overtime (it was unplanned) and need dinner when you are working late. Generally, that would be 50% deductible as you would be required to staff your position. For 2018, you need a merchant account in your graph of accounts that says something similar to “Meals 50% Deductible.” In this particular category, you can put travel meals and the meals above. In spite of the decrease to 50 percent, you are likely to continue your business activities that include the meals.
These organizations are not only employing the functions research techniques and evaluation on the short-term trouble-shooting basis but also for long-range tactical planning. So far we have avoided the problem of defining exactly what OR is. In order to get a clearer idea of what OR is we will actually do some by considering the specific problem below and then highlight some general Management Courses and concepts from this specific example. BOTH Mines Company own two different mines that produce an ore which, after being crushed, is graded into three classes: high, medium, and low-grade.
The company has contracted to provide a smelting herb with 12 a great deal of high-grade, weekly 8 tons of medium-grade and 24 tons of low-grade ore. Both mines have different operating characteristics as detailed below. How many times weekly should each mine be managed to fulfill the smelting seed contract?
Note: this is obviously a simple (even simplistic) example but, much like many things, we’ve to begin at a simple level to be able to advance to a far more complicated level. To explore the Two Mines problem further, we may simply think (i.e. use our judgment) just how many days weekly to work and observe how they come out.
This will not seem such as a good guess as it results in only 7 tonnes each day of high-grade, insufficient to meet up with the agreement requirement for 12 tonnes of high-grade each day. We say that such a solution is infeasible. This seems like a better figure, as it results in sufficient ore to meet the contract.
We say that such a solution is feasible. However it is very costly (costly). Rather, than continue guessing we can approach the problem in an organized reasonable fashion as below. Reflect for a moment though that basically we wish a solution which supplies what is necessary under the contract at minimal cost. Logically such the very least-cost solution to the decision problem must can be found.
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However, even if we keep speculating we can never be certain whether we have found this minimum cost solution or not. Fortunately our structured approach shall allow us to find the minimum cost solution. What we have is a verbal description of both Mines problem. What we need to do is to convert that verbal description into a comparative mathematical explanation.
We do this below and take note here that process is often called formulating the problem (or more firmly formulating a mathematical representation of the problem). These symbolize the “decisions that have to be produced” or the “unknowns”. It is advisable to first put each constraint into words and then express it in a numerical form.