Which of the following is a currently deductible trade or business expense.
A)$ 5,000 trustee fees paid to a bank to manage tax-exempt securities.
B)$ 12,000 fee paid to a marketing firm for a market analysis for a new business.
C)$15,000 fee paid to a TV station to advertise a new product.
D)$20,000 to an attorney to defend title to a new patent.
E)All of the above are currently deductible expenses.

Question

Quizplus · Accepted Answer

C) $15,000 fee paid to a TV station to advertise a new product is a currently deductible trade or business expense because it is a direct cost associated with promoting the business's products, which is considered an ordinary and necessary business expense.

Which of the Following Is a Currently Deductible Trade or Business