Unit 6 Discussion Federal Tax
letdueDiscussion Topic: What is the distinction between deductions for AGI and deductions from AGI and why should this be important for individuals?
As you review deductions from AGI and for AGI, how should bribes and kickbacks be treated for tax purposes? Are they a deduction and are they allowed? As you recall Al Capone’s conviction caused mobsters and other illegal gangsters to rethink their method of keeping detailed records? Why did this rethink occurred? How different was this situation to with bribes and kickbacks differ now with multimillion-dollar corporations do business?
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