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Everest Corporation, a calendar year C corporation, was formed on March 7, 2015 and opened for business on July 1, 2015. After its formation but
Everest Corporation, a calendar year C corporation, was formed on March 7, 2015 and opened for business on July 1, 2015. After its formation but before opening for business, Everest Corporation incurred the following expenses:
Accounting | $7,150 | |
Advertising | 14,350 | |
Employee Payroll | 10,600 | |
Rent | 8,300 | |
Utilities | 1,600 --------------- | |
Total Expenditure | $42,000 |
What is the maximum amount of these expenditures that Everest Corporation will be allowed to deduct in 2015?
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