Which of the following expenditures is completely deductible?
A)$1,000 spent on compensating your brother for a personal expense.
B)$50 spent on meals while traveling on business.
C)$2,000 spent by the employer on reimbursing an employee for entertainment.
D)All of these expenses are fully deductible.
E)None of these expenses can be deducted in full.

Question

Quizplus · Accepted Answer

A) Personal expenses are not deductible. B) Business meal expenses are only partially deductible, typically 50%. C) Entertainment expenses related to business are generally not deductible under current tax laws.

Which of the Following Expenditures Is Completely Deductible