Question
HELP ASAP PLEASE! Juliette formed a new business to sell sporting goods this year. The business opened its doors to customers on June 1. Determine
HELP ASAP PLEASE!
Juliette formed a new business to sell sporting goods this year. The business opened its doors to customers on June 1. Determine the amount of start-up costs Juliette can immediately expense (not including the portion of the expenditures that are amortized over 180 months) this year in the following alternative scenarios:
Note: Leave no answer blank. Enter zero if applicable.
a. She incurred start-up costs of $2,100.
b. She incurred start-up costs of $40,000.
c. She incurred start-up costs of $50,500.
d. She incurred start-up costs of $60,250.
e. How would you answer parts (a) through (d) if she formed a partnership or a corporation and she incurred the same amount of organizational expenditures rather than start-up costs (how much of the organizational expenditures would be immediately deductible)?
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