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14 October, 06:57

Which of the following is deductible as dues, subscriptions, or publications? a. Subscription to the "Journal of Taxation" for a tax attorney b. Dues to the drama club for a student c. Dues to a health club for a doctor d. Subscription to "Vogue" magazine for a corporate president e. None of these choices are correct.

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  1. 14 October, 09:46
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    Subscription to the "Journal of Taxation" for a tax attorney

    Explanation:

    Dues and subscriptions are professional expenses. They are tax-deductible subject to the 2% Adjusted Gross Income.

    Professional subscriptions refer to any fees that the person may have to pay to get his business or profession registered with a "governing body" for which a license is required.

    One cannot claim tax back on professional fees and subscriptions.

    Subscription to the "Journal of Taxation" for a tax attorney is deductible as dues, subscriptions, or publications.
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Home » Law » Which of the following is deductible as dues, subscriptions, or publications? a. Subscription to the "Journal of Taxation" for a tax attorney b. Dues to the drama club for a student c. Dues to a health club for a doctor d.
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