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Ronald is a cash-method taxpayer who made the following expenditures in 2021. Which expenditure is completely deductible in this period as a business expense? Multiple
Ronald is a cash-method taxpayer who made the following expenditures in 2021. Which expenditure is completely deductible in this period as a business expense? Multiple Choice $4,000 for rent on his office, which covers the next 24 months. $3,000 for a new watch for the mayor to keep "good relations" with city hall. $2,500 for professional hockey tickets distributed to a customer to generate "goodwill" for his business. $300 to reimburse the cost of meals in restaurants incurred by employees while traveling for the business. a O None of the choices are completely deductible
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