Linger corporation, a calendar-year taxpayer, was incorporated March1, year 1, and began business operations on June 1, Year 1. Linger had the following organizational expenses: What is Linger's maximum organizational expense deduction for year 1? dollar5, 257 dollar5, 086 dollar280 dollar5,000 For financial accounting purposes, Thunder. Inc., estimates its bad debts and uses the allowance method in accounting for accounts receivable. At the end of the current year. Thunder had net accounts receivable of dollar73,000 and an allowance for doubtful accounts of dollar3, 500. For the year, its bad debt expense was dollar3,000, and specific charge-offs were dollar750. What is Thunder's current-year deduction for bad debt expense on its federal income tax return? dollar750 dollar3,000 dollar3, 500 dollar6, 500 Cafe Corporation had the following items of income and expense during the current year: Cafe had no portfolio indebtedness. Cafe Corporation's dividends-received deduction for the current year is dollar15,000 dollar12,000 dollar10, 500 dollar5, 250