46. Ralph operates a business that acts as a sales representative for a large firm that produces and sells precious metals to electronic manufacturers. Ralph contacts manufacturers and convinces them to sign contracts for delivery of metals. Ralph earns a commission on the sales. This year, Ralph contacted a jeweler to engrave small lapel buttons for each of his clients. Ralph paid $20 each for the lapel buttons and the jeweler charged Ralph an additional $7 for engraving. The electronic manufacturers, however, prohibit their 2 employees from accepting gifts related to sales contracts. Can Ralph deduct the cost of the lapel buttons as business gifts

Ralph can deduct the cost of lapel buttons as business gifts.

Explanation:

Section 274b states that business gifts cannot exceed $25, but Section 1274-3c states that the cost of the gift can be accounted separately than incidental costs related to them. This means that Ralph can deduct $20 for each lapel button and the $7 of the engraving can be discounted separately. This is similar to discounting $25 for the cost of a gift and $2 for the wrapping costs.

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.