Union Dues and Spousal Support Payments Can Be Deducted in the Calculation

question 69

True/False

Union dues and spousal support payments can be deducted in the calculation of taxable income.

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Definitions:

Charitable Donations

Financial or material contributions given to nonprofit organizations or causes for philanthropic purposes.

Implied Powers

Powers not explicitly stated in a constitution or legal document but deemed necessary to execute the powers that are expressly stated.

De Facto Corporation

Latin for “corporation in fact” a corporation that has not substantially met the requirements of the state incorporation statutes.

Incorporation Statute

Laws enacted by a state that outline the requirements for forming and operating a corporation within that state.