ACC 547 ASSIGNMENT.

ACC 547 Question 1.

  1. Congress has tried to subsidize the cost of higher education through the federal income tax system. Compare and contrast the operation of the deduction for qualified educational costs and the operation of the deduction for interest on qualified educational loans.

 

  1. Compare and contrast start-up costs and organizational expenditures. Describe how the tax treatment of these expenditures differs from the treatment for financial accounting purposes.

 

  • What is an “ordinary and necessary” business expenditure? And what is the importance of each?

 
WORD COUNT: 100( or more) word for each question.