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Martha was considering starting a new business. During her preliminary investigations related to the new venture, she incurred the following expenditures. Salaries $22,000 Travel $18,000
Martha was considering starting a new business. During her preliminary investigations related to the new venture, she incurred the following expenditures.
Salaries $22,000
Travel $18,000
Interest on short-term note $4,000
Professional fees $13,000
Martha begins the business on July 1 of the current year. If Martha elects Section 195 treatment, determine her startup expenditure deduction for the current year.
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