The rules for deducting business expenses assure that virtually all expenses related to a trade or business
Question:
The rules for deducting business expenses assure that virtually all expenses related to a trade or business or a production-of-income activity are deductible at some time during the life of the activity. However, few personal expenditures are deductible. Why is there a difference in treatment of the expenses?
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Allowing individuals to deduct most of their individual living expenses would be an administra...View the full answer
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Tamil Elakkiya Rajendran
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Related Book For 
Concepts In Federal Taxation
ISBN: 9780324379556
19th Edition
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
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