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

What kind of consumers do omnivores eat?
what is 5,900 round to the nearest thousand
The quotient of a number and 5, minus 2,is 8.
Through (-2, -2) parallel to 2y-x=7
Trevor ran a hundred meter dash in 10.4 seconds what was his speed be in miles per hour at this rate round your answer to the nearest whole number
What role did the Scientific Revolution play in bringing about the Enlightenment?
please help me solve for
PLEASE HELP MEthank you, and 15 points!!Gretchen and Ezia received equal scores on a test made up of multiple choice questions and an essay. Gretchen got 18 mul
What is a U.S. engineer's ride?
AFTER EVERY NINTH VISIT TO A RESTAURANT YOU RECEIVE A FREE BEVERAGE . AFTER VERY TWELFTH VISIT YOU RECEIVE A FREE APPETIZER . IF YOU VISIT THE RESTAURANT 100 TI