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

Can you solve this problem for me Y=3x+3b. For b
Which reform to the American education system began in the early nineteenth century? a. typing classes b. women's colleges c. magnet schools for science d.
After 30 baseball games, A Rod had 25 hits . If after 100 games he had 80 hits, what is the average hits per baseball game.
What is a basic requirement that a scientific hypothesis must have?
Which best describes the significance of the Epic of Gilgamesh? a. It is a classic epic and a source of information on Sumerian values. b. It explains why the
Which of the following is not true about the evolution of biomes?
How did the issue of slavery divide the nation?
What part of speech is into
Which is an everyday situation for the math expression with the context provided? 14 – g; comparing people's ages A. Jack is 14. Maura is g years younger than
Which best explains the caste system? a. a Buddhist idea that each person has many lives until they reach spiritual perfection b. the belief that the essentia