Implants, Brothels, Cats & Clothes: What ‘Ordinary and Necessary’ Really Means скачать в хорошем качестве

Implants, Brothels, Cats & Clothes: What ‘Ordinary and Necessary’ Really Means

What does “ordinary and necessary” really mean under U.S. tax law? Using real Tax Court cases involving implants, brothels, clothing, and even cat food, this video explains how courts decide whether a business expense is deductible. You’ll see why some expenses that sound deductible fail in court, while others are allowed only under extreme facts. Topics include: • What “ordinary” actually means (industry-specific, not common sense) • Why clothing and uniforms almost always fail • When cosmetic surgery and implants are treated as personal expenses • The rare exception where implants were deductible • Why a profit motive alone is not enough • How §262 (personal expenses) overrides §162 • Why employees generally cannot deduct unreimbursed expenses today #accountingstudent #taxes #taxdeductions #taxeducation #cpaexam #enrolledagent