Is a salary that is classified as unreasonable by the irs

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Reference no: EM13142298

Is a salary that is classified as unreasonable by the IRS disallowed as a deduction to the corporation? Must, (under certain circumstances) a cash method taxpayer treat prepayments the same as an accrual method taxpayer? Is a bribe paid to domestic officials not deductible, but is it possible to deduct a bribe paid to foreign officials? Is a political contribution to the Democratic or Republican party not deductible but a contribution to a presidential election campaign fund deductible? Is it true that if a vacation home is a personal or rental residence no maintenance and utility expenses can be claimed as a deduction?

Reference no: EM13142298

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