Which of the following expenditures is NOT likely to be allowed as a current deduction for a landscaping and nursery business?
A)Cost of fertilizer
B)Accounting fees
C)Cost of a greenhouse
D)Cost of uniforms for employees
E)A cash settlement for trade name infringement

Question

Quizplus · Accepted Answer

The cost of a greenhouse would likely be classified as a capital expenditure and would need to be depreciated over several years rather than deducted in the current year. The other expenses listed would be considered ordinary and necessary expenses for running a landscaping and nursery business and would likely be allowed as current deductions.

Which of the Following Expenditures Is NOT Likely to Be