Question
Kitty runs a brothel (illegal under state law) and has the following items of income and expense. What is the amount that she must include
Kitty runs a brothel (illegal under state law) and has the following items of income and expense. What is the amount that she must include in taxable income from her operation?
Income: $200,000
Expenses:
Rent $8,000
Utilities $2,000
Bribes to Police $10,000
Medical Expense $5,000
Legal Fees $20,000
Depreciation $14,000
Illegal Kickbacks $15,000
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Energy And Finance Sustainability In The Energy Industry
Authors: André Dorsman, Özgür Arslan-Ayaydin, Mehmet Baha Karan
1st Edition
3319322664, 978-3319322667
