Solution-What are Vella total deductible expenses for tax

What are Vella total deductible expenses for tax purposes

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Reference no: EM132666751

Problem - Vella owns and operates an illegal gambling establishment. In connection with this activity, he has the following expenses during the year:

Rent $‍24,000

Bribes 40,000

Travel expenses 4,000

Utilities 18,000

Wages 230,000

Payroll taxes 13,800

Property insurance 1,600

Illegal kickbacks 22,000

Required - What are Vella's total deductible expenses for tax purposes?

Reference no: EM132666751

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What are Vella total deductible expenses for tax purposes

Reference no: EM132666751

Reference no: EM132666751

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