88. On May 1, Rick formed a new corporation, Red, Inc. He spent $3,000 in legal fees
Question:
88. On May 1, Rick formed a new corporation, Red, Inc. He spent $3,000 in legal fees and paid the state $600 in incorporation fees to set up Red Corporation Red Corporation started operating its business on May 10. Can Rick or Red Corporation deduct either of these organizational fees? In answering this case, use a computer tax service with only the Internal Revenue Code database selected.
State your keywords and which computer tax service you used to arrive at your answer.
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Related Book For
Federal Tax Research
ISBN: 9780324659658
8th Edition
Authors: William A. Raabe, Gerald E. Whittenburg, Debra L. Sanders
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