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Unformatted text preview: Why would Kaufman rent a backhoe it did not need? The owner of the equipment was a candidate for mayor in the city where Kaufman’s store is located. Kaufman’s management believed that the candidate’s proposals would benefit their business. Since political contributions are not tax deductible, management arranged the rental scheme in an attempt to deduct the payment....
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This note was uploaded on 09/09/2011 for the course TAX 6845 taught by Professor Kelliher,c during the Fall '08 term at University of Central Florida.
- Fall '08