Public policy limitation on deduction for business expenses

Under the United States taxation system, an enterprise may deduct business expenses from its taxable income, subject to certain conditions. On occasion the Internal Revenue Service (IRS) has challenged such deductions, regarding the activities in question as illegitimate, and in certain circumstances the Internal Revenue Code provides for such challenge.

Source: Wikipedia — Public policy limitation on deduction for business expenses (CC BY-SA 4.0)

Public policy limitation on deduction for business expenses

Under the United States taxation system, an enterprise may deduct business expenses from its taxable income, subject to certain conditions. On occasion the Internal Revenue Service (IRS) has challenged such deductions, regarding the activities in question as illegitimate, and in certain circumstances the Internal Revenue Code provides for such challenge.

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Source: Wikipedia "Public policy limitation on deduction for business expenses" · CC BY-SA 4.0

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