What is meant by goodwill expenses

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Question 1. A. What is meant by goodwill expenses?
B. When are these expenses deductible

Question 2. Explain how the 50 percent limitation makes the after tax cost of business meals and entertainment higher

Question 3. Clark invests heavily in stocks and bonds. He also owns several apartment houses and a sizable municipal bond portfolio. Each of these investments was made at the advice of Clarks investments counselor who charged two separate fees for her advice. During the same year Clarkes Attorney and other members of the estate planning team helped Clarke to establish an estate plan. Which if any of the following fees would probably be deductible
A. An investments counselors fees for advice on stocks and bonds
B. An investoment counselors fee for adviceon apartment house management
C. An Attorneys fee for drafting a simple will
D. An attorneys fee solely for advice as to the tax consequences of contemplated income and estate tax planning

Reference no: EM132434484

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