37. Amounts employers pay or reimburse employees for qualified moving expenses are taxable to employees and deducted by the employer. a. True*b. False
38. Taxpayers cannot deduct the costs of tickets to any entertainment activity or facility regardless of whether or not the taxpayer's attendance at the activity is related to business.
39. A 50 percent deduction is allowed for amounts paid or incurred for dues and fees paid to social, athletic, sporting, or country clubs.
40. A taxpayer can claim a transportation deduction equal to 50 cents per mile traveled in a passenger automobile for business purposes.
41. The tax laws regarding depreciation allow taxpayers to write off the cost of tangible property over set periods regardless of the actual useful life of the property. *a. Trueb. False
42. The depreciable life of land is dependent on the type of buildings that have been, or will be, constructed on the land.
43. For tax purposes, an asset does not necessarily need to decline in value to be a depreciable asset.