Question
Need help starting a tax memo. Jason started a business operating a chain of shoe stores and formed a C corporation to do his business.
Need help starting a tax memo.
Jason started a business operating a chain of shoe stores and formed a C corporation to do his business. Jason named his company ShoePalace and will be a calendar year taxpayer. He bought shares in exchange for cash. Leased a building, bought equipment. Jason incurred expenses for advertising, licensing, training and cleaning.
Jason's store would like to figure out the amount of income tax treatment for the expenses. No amounts have been provided just the contrast if the start up expenses incurred were $30000 or if the start up expenses were $70000.
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