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IRC Section 162 Explained: What Does “Ordinary and Necessary” Mean for Business Deductions? #cpacafe
IRC Section 162 Explained: What Does “Ordinary and Necessary” Mean for Business Deductions? | CPA Cafe Ever wonder what the IRS means by “ordinary and necessary” for business deductions? Section 162 of the Internal Revenue Code allows you to deduct expenses that are both ordinary — meaning common and accepted in your industry — and ...
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