Taxpayer B is the president and sole shareholder of XYZ Corporation, which has six employees.The corporation may deduct the cost of a hunting lodge as long as it is primarily used by the employees.

Question

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According to IRS regulations, the cost of a hunting lodge may be deducted as a business expense if it is primarily used by employees. The fact that Taxpayer B is the sole shareholder and president of the corporation does not affect this rule.

Taxpayer B Is the President and Sole Shareholder of XYZ