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Which of the following is NOT a deductible expense for income tax purposes?
  • a)
    Mortgage interest
  • b)
    Charitable contributions
  • c)
    Property taxes
  • d)
    Entertainment expenses
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Which of the following is NOT a deductible expense for income tax purp...
While mortgage interest, charitable contributions, and property taxes are typically deductible expenses for income tax purposes, entertainment expenses are generally not fully deductible. The tax law may allow for a partial deduction of entertainment expenses under certain conditions, but it is not fully deductible in most cases.
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