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If a few paragraphs describe What makes a cost relevant for the decision-making process? How can we use these relevant costs to make short-run decisions?
Predict at least two potential deduction errors that a taxpayer would most likely make when mixing business and pleasure travel. Next, suggest one way in which a taxpayer could avoid those deduction errors.
Debate it The 50% disallowance for meal and entertainment expenses is fair and reasonable. Provide a rationale for your response.