"A $10,000.00 fine and "censure" is not going to deter a broker or market maker that made $500,000.00 violating the rule for which it was "penalized." It is simply a cost of doing business, and a tax deductible one at that."
4. Expenses That Are Never Deductible
Certain things aren't tax deductible -- even if they meet all the criteria -- because it would violate public policy to encourage these activities. These items include:
government-imposed fines, like a tax penalty for making a late filing, a speeding ticket, or a parking ticket
bribes and kickbacks, whether to a local building official or an Arab sheik
referral payments to get a client or customer, if illegal under a state or federal law
political contributions or payments to purely social organizations.
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