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

A toy airplane is flying at a speed of 3 m/s with an acceleration of 1.1 m/s squared how fast is it flying after five seconds
ASAP PLZ I NEED IT RNWho organized the District 21 branch of the United Mine Workers? A. Pete Hanraty B. J. J. McAlester C. H. W. Faucett D. Lewis Ross​
Use the work shown below to find the simplified product
In recent years, many advancements in have helped to improve quality of life for the Deaf community. O biochemistry O construction O nutrition O technology
Do you agree or disagree that homologous chromosomes are found in gametes. Explain
4. In SI, motor output is rated in A. horsepower. B. newtons. C.foot-pounds per second. D. kilowatts.
I WILL GIVE BRAINLIEST PLS HELP Translate the following 24. "I have a book for you." 25. "What are you reading?" I 26. "We should go to the park." 27. Imagi
what is -1/4 as a decimal? help me!!
What is the vertex of the function f(x) = -|x + 7| − 4? A. (-7,-4) B. (7,4) C. (-7,4) D. (7,-4)
What symbol is a concentration be