To be deductible, employee compensation must be for services actually performed by the employee and the amount must be reasonable.()

A partner's basis is increased by the amount of deductible loss that flows through from the partnership.() 点击查看答案

If a sole proprietorship has a net operating loss for the current period, the loss can only be used to offset other business income in the current year.Any current loss can be carried back three years and forward five years and used to offset business income in those years.() 点击查看答案