All Business Expense Deductions Are Claimed as "Above the Line

question 27

True/False

All business expense deductions are claimed as "above the line" deductions.

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Definitions:

Capacitor-start Capacitor-run Motor

A type of single-phase induction motor that uses a capacitor in both the starting and running circuits for better efficiency and torque.

Continental Army

The revolutionary war army authorized by the Continental Congress in 1775, led by General George Washington, to fight against British rule during the American Revolution.

Declaration of Independence

A seminal document adopted on July 4, 1776, by the thirteen American colonies declaring their independence from British rule.