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Salaries Are Considered an Ordinary and Necessary Expense of a Trade

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Essay

Salaries are considered an ordinary and necessary expense of a trade or business if they meet what other requirement? What are the tax consequences if this requirement is not met?


Definitions:

Television 1970s

A period marked by significant developments in TV broadcasting, including the expansion of cable television and the emergence of landmark shows and genres.

Dominant Ideologies

The set of beliefs, values, and morals that are widely shared and considered normative within a society, often perpetuated by the media.

United States

A country in North America, consisting of 50 states and a federal district, known for its large economy and cultural influence worldwide.

Outstanding Shares

The total number of shares of a corporation that have been issued and are held by shareholders, including restricted shares owned by company insiders.

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