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(Solution) - When net income from business for tax purposes is being

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When net income from business for tax purposes is being determined, the timing of certain expense deductions is discretionary. For example, a taxpayer may claim all of, some of, or none of the available capital cost allowance. Similarly, the deduction of certain reserves is discretionary. In a partnership structure, is the deduction of discretionary items decided by the partnership as a whole, or can each partner make a separate decision on its proportionate share? What conflict can arise as a result?


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This question was answered on: Jul 11, 2017

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