Choose the Correct Statement

question 94

Multiple Choice

Choose the correct statement:

• A)If a taxpayer does a lot of business travel, the taxpayer may deduct the amount paid for an airline club membership.
• B)Membership dues to a golf club are deductible as long as there is a business purpose.
• C)In order to be deductible, dues and subscriptions must be related to the taxpayer's occupation.
• D)If a financial planner becomes certified, then he/she may not deduct the Certified Financial Planner (CFP) dues because it is not necessary to be certified in order to engage in the business of being a financial planner.

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Definitions:

Misdemeanor

A criminal offense considered less severe than a felony, often punishable by fines or short term imprisonment.

RICO

RICO, the Racketeer Influenced and Corrupt Organizations Act, is a federal law aimed at combating organized crime by allowing prosecution and civil penalties for racketeering activity.

Criminal Penalties

Punishments imposed by the court system for committing acts that violate criminal law, including fines, imprisonment, or probation.

Civil Penalties

Civil penalties are fines or other forms of punishment imposed by a governmental agency for violations of regulatory laws or ordinances, not involving criminal prosecution.