Illegal Bribes and Kickbacks Are Not Deductible as Business Expenses

question 128

True/False

Illegal bribes and kickbacks are not deductible as business expenses but fines imposed by a governmental unit are deductible as long as the fines are incurred in the ordinary course of business.

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Definitions:

Risk of Dependence

The potential likelihood that a person will become physically or psychologically reliant on a substance or activity, characterized by a compulsive use despite harmful consequences.

Marijuana

A mind-altering substance derived from the Cannabis plant, utilized for therapeutic or leisure activities.

Withdrawal Symptoms

Physical and psychological symptoms that follow the abrupt discontinuation or decrease in intake of a substance.

Drug Addiction

A chronic disease characterized by compulsive or uncontrollable drug seeking and use despite harmful consequences and changes in the brain, which can be long-lasting.