Only half the cost of a business meal is deductible even if the meal is extravagant.
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Q7: Taxpayers must maintain written contemporaneous records of
Q8: The deduction for business interest expense is
Q9: The test for whether an expenditure is
Q10: A business can deduct the cost of
Q11: A fiscal tax year can end on
Q13: The phrase "ordinary and necessary" has been
Q14: Sole proprietorships must use the same tax
Q15: All taxpayers must account for taxable income
Q16: Adjusted taxable income for calculating the business
Q17: Illegal bribes and kickbacks are not deductible
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