Question
A client is in the business of developing and selling tax shelters. In order to market his products he has joined the local golf club
A client is in the business of developing and selling tax shelters. In order to market his products he has joined the local golf club most frequently used by doctors and dentists. As a result of the contacts made there he has been able to double his sales volume. Based on these results, he feels that his club dues are deductible as a business expense. Is this true? Comment.
If an employer were to pay the premiums for an individual disability policy for the president of the company (not a group policy), then there would not be a taxable benefit and any disability benefits received from the plan would not be taxable either. Is this true? Comment.
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