In order for a business expense to be deductible it must be ordinary, necessary, and reasonable. Explain

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In order for a business expense to be deductible it must be ordinary, necessary, and reasonable. Explain what these terms mean.

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Federal Taxation 2018 Comprehensive

ISBN: 9780134532387

31st Edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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Question Posted: Mar 20, 2018 01:19 AM

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In order for a business expense to be deductible it must be ordinary, necessary, and reasonable. Explain

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An ordinary expense is an expense that bears a reasonable and pro...View the full answer

Federal Taxation 2018 Comprehensive

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