Line in the Sand
from Title 26 Hosted by Benjamin Lehman, CPA
Why can a business deduct inventory, but you can’t deduct your rent or your drive to work? In this episode, we explore where the tax code draws the line between the costs of earning income and the costs of simply living. From business meals and entertainment to commuting, educator expenses, and COGS, we look at why income is broadly taxable while deductions have to be specifically allowed—and why those limits are necessary to keep the tax base from disappearing.
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