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

You make time and a half for all overtime. You make $9.00 an hour for regular hours. What is your overtime hourly rate of pay?
5500 trees were planted in a forest on 1st October 2018. Only 5060 of these trees were still alive on 1st October 2019. It is assumed that the number of trees s
Please help!!! 100 points + brainliest PS: if you help and its right i have my own etsy busieness (jewerly) i will give 3 of my items for free you can pick
Actual distance = _ miles
In tge sentence " I would like to know the answer. The phrase to know the answer is a?
What is the mass of the ball that was hung to the spring if the period is 4 sec and the spring constant is 80 N/m.
7 – 2 • 5 + 9 • 3 Question 1 options: 24 –30 102 18
What is the mass of the ball that was hung to the spring if the period is 4 sec and the spring constant is 80 N/m.
Actual distance = _ miles
Sam can read k pages in 20 minutes. In terms of k, how many minutes does it take Sam to read 1 page?