Wednesday, November 01, 2006

I went to this school so I could avoid those clients...

Prof: IRC § 280E denies a deduction for expenses of drug trafficking, but you can still deduct for cost of goods sold. So remember, for your drug-dealing clients, they have to choose FIFO or LIFO system of accounting.

1 comment:

Kristin said...

I was hoping you'd blog this one. :)