Deductions Subject to 2% Nondeductible floor a. Investment counseling fees b. Fees for tax return preparation c. Unreimbursed professional dues for an employee d. Gambling losses e. Interest on a personal residence f. Unreimbursed employee travel expenses g. Reimbursed employee travel expenses (an adequate accounting is made to the employer and any excess reimbursement must be repaid) h. Safe deposit box rental expenses for an investor

Cynthia is a hospitality worker in the lodging industry who prefers to cater to small groups of people. she might want to open a

Lusk corporation produces and sells 14,300 units of product x each month. the selling price of product x is $25 per unit, and variable expenses are $19 per unit. a study has been made concerning whether product x should be discontinued. the study shows that $72,000 of the $102,000 in monthly fixed expenses charged to product x would not be avoidable even if the product was discontinued. if product x is discontinued, the annual financial advantage (disadvantage) for the company of eliminating this product should be:

Why is efficiency an important economic goal?