1.which of the following is considered an itemized deduction under 2017 tax law? Advertising expense charitable contributions Retirement conmtributions child care expenses expenses 2. must meet two qualifications under section 162 and 212 in order tobe deductible.

What those two qualifications? common and related ordinary and necessary ordinary and common necessary and related

WHICH OF THE FOLLOWING IS NOT CONSIDERED taxable income? Salaries illegal income unrealized gains interest income.

4. how do you recognize revenue and expenses under accrual accounting? income is recognized when earned and expenses when incurred income is recognized when earned and expenses when paid income is recognized when received and expenses when incurred income is recognized when received and expenses when paid

how do you recognize revenue and expenses under cash accounting? income is recognized when earned and expenses when incurred income is recognized when earned and expenses when paid income is recognized when received and expenses when incurred income is recognized when received and expenses when paid

A proportional tax would do what? Eliminate the income tax Simplify the income tax Tax the increment in value of goods move through the production and manufacturing stages to the market place Tax consumption