Principles of Deductions

Loss on destruction of uninsured personal car of the taxpayer

• Capital Expenditure

• Deductible Eexpense

• Non-Deductible Expense

Employee performance bonus for the current year

• Capital Expenditure

• Deductible Eexpense

• Non-Deductible Expense

Acquisition cost of equipment

• Capital Expenditure

• Deductible Eexpense

• Non-Deductible Expense

Decline in market value of investment securities

• Capital Expenditure

• Deductible Eexpense

• Non-Deductible Expense

Advanced rent for the next two years

• Capital Expenditure

• Deductible Eexpense

• Non-Deductible Expense

Interest expense in acquiring tax-exempt securities

• Capital Expenditure

• Deductible Eexpense

• Non-Deductible Expense

Expenses to create business goodwill

• Capital Expenditure

• Deductible Eexpense

• Non-Deductible Expense

Loss on decline in the value of securities

• Capital Expenditure

• Deductible Eexpense

• Non-Deductible Expense

Fire loss on uninsured building

• Capital Expenditure

• Deductible Eexpense

• Non-Deductible Expense

Factory salaries, utilities and rent expense

• Capital Expenditure

• Deductible Eexpense

• Non-Deductible Expense