7SV 5187 103 Certain expenses are tax deductible Which one o

7SV 5187 103. Certain expenses are tax deductible. Which one of the following statemen correct in this regard? ts is a. Adoption expenses are deductible. b. Fines for parking tickets are deductible. c. Business expenses of performing artists are deductible as an adjustment to income. Dog tag renewal fee\'s expenses are deductible. d. 104. Certain expenses are tax deductible. Which one of the following statements is correct in this regard? a. Personal disability insurance premiums are deductible. b. Expenses for attending stockholders\' meetings are deductible c. Impairment related work expenses are deductible. d. The value of wages never received is deductible. 105. Which one of the following statements is correct in regard to expenses for deducting personal legal expenses? a. b. c. The expenses for preparing a will are deductible The expenses for custody of your children are deductible. The expenses for legal fees for a civil charge from a personal relationship are deductible. None of the above are correct. d. 106. Which one of the following statements is correct in regard to deducting professional accreditation fees? a. Accounting certificate fees paid for the initial right to practice b. Bar exam fees paid to secure admission to the bar are not tax c. Medical fees paid to get initial licensing are tax deductible accounting are tax deductible. deductible d. None of the above are correct

Solution

103. ANSWER: c. Business expenses of performing artists deductible as adjustments to gross income rather than as itemized deduction ---- as per IRS Publication 463 a,b& d are not tax deductible as per Publication 529 104- ANSWER: c. Impairment related work expenses are tax deductible As per IRS Publication 463-- those expenses mandatory for a physically/menatally disabled person-- necessary to discharge one\'s duty satisfactorily at the workplace, like employing a help,are tax deductible a,b& d are not tax deductible as per Publication 529 105--ANSWER: d--None of the above are correct All the above poins a,b & c --are specifically excluded (ie. Not tax deductible)as per IRS Publication 529 106--ANSWER: b-- Bar exam fees paid to secure admission to the bar are not tax deductible Both a & b are not tax deductible as per IRS Publication 529