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Terminal Elevator Co. v. Commissioner, 6 T.C. 1158, 1165 (1946),
affd. 162 F.2d 513 (10th Cir. 1947). We have only petitioner’s
self-serving testimony, which is contradicted by the testimony
and evidence provided by Ms. Nero. Petitioner also had at least
eight evening meals and seven weekend meals reimbursed by TI
during 1993, which undermines his statements that evening and
weekend meals were not reimbursable.
Petitioner argues that by entertaining the customers he
increased his sales, which benefited TI. Nevertheless, the
deductions for valid business expenses properly belong to TI, not
petitioner. Kennelly v. Commissioner, supra.
Generally, the cost of a daily newspaper of general
circulation is a nondeductible personal expense. Sec. 262;
Wallendal v. Commissioner, 31 T.C. 1249, 1252 (1959). Petitioner
contends that he subscribed to the newspaper to read the business
page in order to check on new and existing companies. Petitioner
did not demonstrate that he subscribed to the newspaper solely or
principally for business purposes. Wallendal v. Commissioner,
supra. A general circulation newspaper clearly contains a
significant amount of information which is inherently of a
personal interest. Pollak v. Commissioner, T.C. Memo. 1984-597.
In sum, we find that petitioner is not entitled to deduct
the unreimbursed employee expenses or the miscellaneous expenses
claimed on Schedule A.
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