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| *The Commerce Journal>>>Other Taxes |
Are business restructuring costs tax deductible? |
If a company shuts down a plant or moves business lines around, would it be tax deductible in the current year? Yes, they are deductible in the current year. The only thing about restructuring costs that is different than normal expenses, is that they would be shown as a separate line item on a financial statement, below normal operating income. If these are necessary and customary expenses. |
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