Answered: An S Corporation is not permitted to…

An S Corporation is not permitted to take a deduction for: Officers’ compensation Interest paid to non-shareholders Charitable contributions Depreciation

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter22: S Corporations

Section: Chapter Questions

Problem 9BCRQ

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Question

An S Corporation is not permitted to take a deduction for:

1. Officers’ compensation
2. Interest paid to non-shareholders
3. Charitable contributions
4. Depreciation

Definition Video Definition Accounting method wherein the cost of a tangible asset is spread over the asset's useful life. Depreciation usually denotes how much of the asset's value has been used up and is usually considered an operating expense. Depreciation occurs through normal wear and tear, obsolescence, accidents, etc. Video

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