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Mark Hancock is a self- employed attorney who operates his law practice as an unincorporated sole proprietorship. In 2010, the IRS disallowed several business deductions
- Mark Hancock is a self- employed attorney who operates his law practice as an unincorporated sole proprietorship. In 2010, the IRS disallowed several business deductions he took in 2007 and 2008. In addition to paying the deficiency and assessed penalties, he also pays $18,000 in interest on the tax owed. Can he deduct that interest in the current year?
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College Accounting Chapters 1-27
Authors: James A. Heintz, Robert W. Parry
23rd edition
1337794759, 978-1337794756
