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Ernie owns his own online life coaching business. Ernie would like to grow his revenues and has explored two options: He has decided to expand

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Ernie owns his own online life coaching business. Ernie would like to grow his revenues and has explored two options: He has decided to expand the services offered as part of his life coaching business. As a result, he incurred $8,000 in Y1 upskilling himself and obtaining additional certifications in order to provide additional coaching services. - He is also considering starting his own advertising agency that specializes in social media marketing. Ernie incurred $15,000 in Y1 investigating social media marketing, attending conferences, subscribing to journals, and obtaining premium content editing apps. Ernie does not expand his coaching services, but he starts the social media marketing company on May 1, Y1. How much can Ernie deduct in Year 1? A) $13,448 B) $5,000 C) $5,448 D) $15,000

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