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ACCT309
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ACCT 309 Federal Taxation Accounting  

Pages: 2 | Type : Essay

Answer: Allowable business expenses The Internal Revenue Code 162 provides that deduction shall be allowed for all the necessary expenses paid or incurred during the taxable year by the business or trade. The expenses that are allowed under this section are: Salaries and other compensation that are paid for personal service rendered; The travelling expenses that are incurred for trade or business; The rental payment is allowed as de...

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iconPosted On : Jun 29, 2021     iconDownload : 0
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ACCT 309 Federal Taxation Accounting  

Pages: 4 | Type : Essay

Answer: Tax cuts for small business owners? It’s complicated The tax overhaul bill brought in by the House Republicans endorses reduction of tax burdens of the small business owners. Thus, it promotes reduction of taxes to be collected from the owners of small business owners.    The objective behind the proposed tax cut on the earnings small business owners is more of a political in nature rather than economic. There is...

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iconPosted On : Aug 03, 2021     iconDownload : 0

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