Stanford owns and operates two dry cleaning businesses. He travels to Boston to discuss acquiring a restaurant.
Question:
Stanford incurred the following expenses:
Total investigation costs related to the restaurant ................... $28,000
Total investigation costs related to the bakery ....................... 51,000
What is the maximum amount Stanford can deduct in 2015 for investigation expenses?
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Related Book For
South Western Federal Taxation 2016 Comprehensive
ISBN: 9781305395114
39th Edition
Authors: James H. Boyd, William H. Jr. Hoffman, David M. Maloney, William A. Raabe, James C. Young
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