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Derek,age 46,is a surviving spouse.If he has itemized deductions of $12,900 for 2016,Derek should not claim the standard deduction.
Raw Material Purchases
The acquisition of the basic inputs or resources that are converted through manufacturing processes into final products.
Factory Overhead
Costs related to the operation of a manufacturing plant which cannot be directly associated with specific units of production, such as utilities, maintenance, and management salaries.
Property Taxes
Property Taxes are levies imposed by local governments on real estate based on the property's value, used to fund public services and infrastructure.
Insurance
A financial product that offers protection against potential future losses or damages in exchange for a premium.
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