Designate whether the following expenses are fully deductible (F), partially deductible (P), or nondeductible (N) in the year paid.
-Fines by the health department for unsanitary conditions.

Name: Designate whether the following expenses are fully deductible (F), partially deductible (P), or nondeductible (N) in the year paid. -Fines by the health department for unsanitary conditions.
Brand: Quizplus
Rating: 4.9 (54 reviews)

Question

Quizplus · Accepted Answer

Fines and penalties paid to the government for violating laws are generally nondeductible for tax purposes.

Designate Whether the Following Expenses Are Fully Deductible (F), Partially