Which of the following is deductible as a trade or business expense?
A)A city coroner contributes to the mayor's reelection campaign fund.
B)Illegal bribes and kickbacks paid to a Federal government employee by a corporate executive.
C)Two-thirds of treble damage payments.
D)Fines and penalties paid by a trucking firm for excessive weight and speeding.
E)None of the above.

Question

Quizplus · Accepted Answer

None of the options listed are deductible as trade or business expenses according to IRS guidelines. Contributions to political campaigns, illegal payments, and fines or penalties are not deductible.

Which of the Following Is Deductible as a Trade or Business