Which of the following is likely to be a business expense fully deductible in the current year?
A)Salaries in excess of the industry average paid to attract talented employees.
B)The cost of employee uniforms that can be adapted to ordinary personal wear.
C)A speeding fine paid by a trucker who was delivering a rush order.
D)The cost of a three-year subscription to a business publication.
E)None of the choices are likely to be deductible.

Question

Quizplus · Accepted Answer

Salaries paid to employees, even if above industry average, are generally fully deductible as a business expense in the current year.

Which of the Following Is Likely to Be a Business