Hawbacker, Inc. is in the manufacturing of medical supplies. The company is on a calendar year
basis. Hawbacker, Inc. pays annual dues to a professional organization each April 1st of $8,000.
The invoice notes that the membership fee is allocated for membership fees (75\%) and lobbying
expenses (25\%). What are the total deductible expenses for Tax purposes? What the the total
deductible expenses for GAAP purposes?.
Hawbacker, Inc. is in the manufacturing of medical supplies. The comp.pdf
1. Hawbacker, Inc. is in the manufacturing of medical supplies. The company is on a calendar year
basis. Hawbacker, Inc. pays annual dues to a professional organization each April 1st of $8,000.
The invoice notes that the membership fee is allocated for membership fees (75%) and lobbying
expenses (25%). What are the total deductible expenses for Tax purposes? What the the total
deductible expenses for GAAP purposes?
