When Computing Unrelated Business Income Tax, Charities Are Permitted to Deduct

question 88

True/False

When computing Unrelated Business Income Tax, charities are permitted to deduct ordinary and necessary business related expenses and the first $1,000 of income is not taxed.

---

Definitions:

Handbags

Portable bags designed to hold a person's personal items, ranging from wallets and phones to makeup and keys.

Duct Tape

is a strong, flexible, and adhesive tape originally designed for sealing ductwork but widely used for various repair, crafting, and securing needs.

Endless Chain Referral Method

A method of prospecting whereby a salesperson asks each buyer for a list of friends who might also be interested in buying the product.

Salesperson

A professional who specializes in selling products or services to customers, using knowledge, persuasion, and interpersonal skills to achieve sales goals.