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  2. Topic
    Business
  3. Study Set
    Federal Taxation
  4. Exam
    Exam 6: Deductions and Losses: in General
  5. Question
    Salaries Are Considered an Ordinary and Necessary Expense of a Trade
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Salaries Are Considered an Ordinary and Necessary Expense of a Trade

Question 2

Question 2

Essay

Salaries are considered an ordinary and necessary expense of a trade or business if they meet what other requirement? What are the tax consequences if this requirement is not met?

Correct Answer:

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