Analyses of Section 162 - Trade or business expenses, 26 U.S.C
https://casetext.com/statute/united-states-code/title-26-internal-revenue-code/subtitle-a-income-taxes/chapter-1-normal-taxes-and-surtaxes/subchapter-b-computation-of-taxable-income/part-vi-itemized-deductions-for-individuals-and-corporations/section-162-trade-or-business-expenses/analysis?citingPage=1&sort=relevance
WEBMar 11, 2016 · IRC § 162 (a) permits the taxpayer to deduct all of the ordinary and necessary expenses associated with the business, and not directly related to the creation of the “product” (inventory), from gross receipts to arrive at taxable income.
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