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Are expenses incurred in running for political office deductible?
Wiki User
∙ 13y ago
No, they are not. According to IRS Publication 529: Nondeductible Expenses,
"You cannot deduct campaign expenses of a candidate for any office, even if the candidate is running for reelection to the office. These include qualification and registration fees for primary elections."
Wiki User
∙ 13y ago
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What is the difference between general and administrative expense and overhead expense?
General and administration expenses are those expenses incurred to run day to day business activities. Overhead expenses are factory expenses incurred to run the day to day activities of running production process.
Are Credit Card fees deductible?
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What is left after all the expenses of running a businesss are deducted from the income?
Profit and wealth is left after all the expenses of running a business are deducted from the income.
Am working off the book and want to pay taxes how do you go about it?
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What is loss in business?
it is a situation where income is not enough to meet the running expenses(operating expenses) of the business
What is the difference between long term and short term costs?
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Is motor expenses a fixed cost?
The nature of the expense decides whether it is capital or revenue expense. If the expense is incurred for maintaing it in good condition it is revenue nature and it has to be debited in profit & loss account (eg. petrol, service charges, ect.). If the expense is incurred for making it run then it is capital nature and is to be added to the value of the motor car. (eg. change of engine or any important parts which is important for the running of the motor car)
What overhead mean?
Overhead is the expenses for running a business. Such as electric, rent, payroll, etc. They are usually termed overhead expenses.
Define maintenance and other operating expenses?
Operating Expenses are expenses that are incurred while running a business. Maintenance Expense could be considered anything from the cost of maintaining a company vehicle to repairs made on a building or some other type of "maintenance" that is require by the business in order to function at 100%. Many expenses have their own account such as, Utilities Expense, Rent Expense, Insurance Expense, Interest Expense, Supply Expense, just to name a few. Other expense may not have a specific account in which to be recorded, such as Travel Expense, Food Expense (perhaps to entertain a possible client), these expense are often listed under "Other Expenses".
What office were political candidates Coffin and Hay running for?
Political party
What does overheads mean?
Overhead is the expenses for running a business. Such as electric, rent, payroll, etc. They are usually termed overhead expenses.
What is the importance of revenue to a business?
revenue is what pays the expenses of running the business and hopefully you can even make enough revenue above expenses to make a profit
