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1.Highway speeding fines can be deducted as long as the speeding was done in the line of business. True or False 2.The deduction for business
1.Highway speeding fines can be deducted as long as the speeding was done in the line of business. True or False
2.The deduction for business interest cannot exceed 30 percent of adjusted taxable income plus allocable interest income. True or False
3. Which of the following is not a payment liability?
Multiple Choice
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Tort claims.
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Accrued compensation.
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Insurance premiums.
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Real estate taxes.
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All of the choices are correct.
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