1. Nicole organized a new corporation this year. The corporation began business on April 1, 2019. She made the following expenditures associated with getting the corporation started:

Expense		Date	Amount
Attorney fees for articles of incorporation		February 10	$32,000
March 1 March 30 wages		March 30	$4,500
March 1 March 30 rent		March 30	$2,000
Stock issuance costs		April 1	$20,000
April 1 May 30 wages		May 30	$12,000

1. What is the total amount of the start-up costs expenditures? What is the total amount of organizational expenditures?
2. What amount of the start-up costs may the corporation immediately expense in 2019? What amount of the organizational expenditures may the corporation immediately expense in 2019?
3. What amount can the corporation deduct as amortization expense for the organizational expenditures for 2019 (not including the amount it immediately expensed from b.)? What amount can the corporation deduct as amortization expense for the start-up costs for 2019 (not including the amount it immediately expensed from b.)?
4. What would be the total allowable deductions related to organizational expenses in 2019, if Nicole started a sole proprietorship instead? What would be the total allowable deductions related to start-up expenses in 2019, if Nicole started a sole proprietorship instead?