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What are printer total deductible expenses for tax purposes

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Reference no: EM132646098

Question - Printer Company pays a $31,000 annual membership fee to a trade association for paper wholesalers. The trade association estimates that 60% of its dues are allocated to lobbying activities. If amount is zero, enter, "0".

Required -

a. What are Printer's total deductible expenses for tax purposes?

b. Assume the same facts as above, except that the $31,000 was incurred for in-house lobbying expenses. What are Printer's total deductible expenses for tax purposes?

Reference no: EM132646098

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