Podcast
Questions and Answers
What is the condition for the education of an employee to be considered a legitimate business expense?
What is the condition for the education of an employee to be considered a legitimate business expense?
- The education is connected with the employer's business and the employee is obligated to remain in the employ of the employer for a certain period of time (correct)
- The employee is paying for their own education
- The employer is paying for the education of the employee's dependents
- The education is provided through a competitive scheme under a scholarship program of the employer
What is the maximum amount of lodging cost that can be considered a legitimate business expense for foreign travel?
What is the maximum amount of lodging cost that can be considered a legitimate business expense for foreign travel?
- $400/day
- $300/day (correct)
- No limit
- $200/day
What is the percentage of the cost of a first-class ticket that can be considered a legitimate business expense for foreign travel?
What is the percentage of the cost of a first-class ticket that can be considered a legitimate business expense for foreign travel?
- 30% (correct)
- 40%
- 50%
- 20%
What type of insurance contribution is considered a legitimate business expense?
What type of insurance contribution is considered a legitimate business expense?
What is the condition for an employer's payment for an employee's education to be considered a legitimate business expense?
What is the condition for an employer's payment for an employee's education to be considered a legitimate business expense?
What type of fees are not considered legitimate business expenses?
What type of fees are not considered legitimate business expenses?
What happens to the interest on loans if the interest rate is less than the market rate?
What happens to the interest on loans if the interest rate is less than the market rate?
What type of travel expenses are not considered legitimate business expenses?
What type of travel expenses are not considered legitimate business expenses?
What type of expenses are considered legitimate business expenses?
What type of expenses are considered legitimate business expenses?
What is the condition for the cost of insurance borne by the employer to be considered a legitimate business expense?
What is the condition for the cost of insurance borne by the employer to be considered a legitimate business expense?
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