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The column on the left describes expenses that may (or may not) be deductible on the 2019 federal income tax return of a C corporation.

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The column on the left describes expenses that may (or may not) be deductible on the 2019 federal income tax return of a C corporation. The column on the right describes tax treatments that may apply to each expense. Fill in the letter of the tax treatment on the right which you think is the appropriate federal tax treatment for the expense described on the left. Each item in the column on the right may be used more than once. (1 point each) $5,000 of annual dues paid to a private golf club so corporate officers can golf with customers. $5,000 of annual life insurance premiums paid on key corporate officers; the corporation is the beneficiary on the life insurance policies. 1. Fully deductible as a business expense. $5,000 of wages paid to employees. 2. Partially deductible as a business expense. 3. Not deductible as a business expense. $5,000 of meal expenses paid for dinner at which a meaningful business discussion was held between corporate officers and customers. $5,000 of accuracy penalties assessed against the corporation for failing to file

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