fjfkfodo6887 fjfkfodo6887
  • 02-01-2020
  • Business
contestada

Ordinary and necessary business expenses are deductible only to the extent they are also reasonable in amount.

Respuesta :

jepessoa
jepessoa jepessoa
  • 06-01-2020

Answer:

True

Explanation:

According to the IRS:

  • ordinary expenses are expenses that are common and accepted in a company's trade or industry.
  • necessary expenses are expenses that help your company carry on its normal business.

Tax deductible expenses must be ordinary, necessary, and reasonable.

Answer Link

Otras preguntas

State the name of the reaction for the traditional making of lime?
whats the relative maxima,relative minima, absolute maximum, zero/multiplicity, intervals of increase/decrease. Please help me find the answer to any of these w
What is an example of militarism being used in a good way
4.1.4 Leaning Towers (FULL SHEET) 1. Which of the towers did you select? Draw a sketch of your tower. The height you are given is the vertical distance from th
answer this question faster
30% of the people at a concert are female. 1295 of the people at the concert are male. Work out the number of people at the concert who are female.
just explain how it's not 7 please ​
What does The Bachelor give to the women he wants to stay on the show each week?
Jin met Pat on September 8 at Queen Bank. After talking with Pat, Jin decided she would like to consider a $9,000 loan at 1012% to be repaid on February 17 of t
Factorise: (5x + 7y + 5 + 7xy)