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Deductible Expenses are "Reasonable" on case by case basis

[fa icon="calendar'] Mar 23, 2016 11:59:34 AM / by admin posted in tax deductions, tax deduction, accounting, Deductible Expenses, business, tax, capital, Tax Savings

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To be deductible expenses, a business expense must be ordinary, necessary and reasonable in amount. The part of that three-pronged test that seems to give taxpayers the biggest problem is the reasonable amount.

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