Match the proper deduction method with the correct expenditures.
-Political contributions
A)Capitalized and amortized over a number of accounting periods
B)Expensed in the period incurred
C)Not deductible
D)Can be capitalized and amortized or deductible depending on the amount of the expenditure

Question

Quizplus · Accepted Answer

Political contributions are generally not deductible for tax purposes. This is because they are considered personal expenses and do not directly relate to the conduct of a business or the production of income.

Match the Proper Deduction Method with the Correct Expenditures