You may recall that tax deductions are only deductible by the legislative grace of Congress. After this lesson,
you might have realized that Congress was pretty generous with the types of business expenses that are deductible. You may already be aware, or you'll soon see, that Congress was not so generous with the types of personal expenses that are deductible. Why do you think that is?
Why did Congress choose to treat business expenses and personal expenses so differently?
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