45. Manny hired his brothers firm to provide accounting services to his business. During the current year,

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45. Manny hired his brother’s firm to provide accounting services to his business. During the current year, Manny paid his brother’s firm $82,000 for services even though other firms were willing to provide the same services for $40,000. How much of this expenditure, if any, is deductible as an ordinary and necessary business expenditure?

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McGraw Hills Taxation Of Business Entities

ISBN: 9780134420851

2024 Edition

Authors: Brian Spilker, Ayers, Robinson, Outslay, Worsham, Barrick, Weaver

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