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Legal Expenses Are Generally Deductible If They Have a Business

question 81

True/False

Legal expenses are generally deductible if they have a business purpose; they are generally not deductible if they originate from a personal transaction.


Definitions:

Methionine

An essential amino acid that plays a role in many cellular processes, such as initiating protein synthesis and being a source of sulfur.

L-Phenylalanine

An essential amino acid with a phenyl group, required for various processes in the body and a precursor to neurotransmitters and proteins.

Organic Product

A chemical compound of organic origin or produced by living organisms.

Gaseous HCl

Hydrochloric acid in its gaseous form, commonly used in chemical synthesis and processing.

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