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Vella owns and operates an illegal gambling establishment. In connection with this activity, he has the following expenses during the year: Rent: $24,000 Bribes:
Vella owns and operates an illegal gambling establishment. In connection with this activity, he has the following expenses during the year: Rent: $24,000 Bribes: $40,000 Travel expenses: $4,000 Utilities: $18,000 . Wages: $230,000 Payroll taxes: $13,800 Property insurance: $1,600 Illegal kickbacks: $22,000 Vella's total deductible expenses for tax purposes are 0x.
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South Western Federal Taxation 2017 Essentials Of Taxation Individuals And Business Entities
Authors: William A. Raabe, David M. Maloney, James C. Young, Annette Nellen
20th Edition
978-0357109144, 978-0357686652, 978-1305874824
