Question
On May 1, rick formed a new corporation, Red, Inc. He spent $3,000 in legal fees and paid the state $600 both for incorporation fees.Red,
On May 1, rick formed a new corporation, Red, Inc. He spent $3,000 in legal fees and paid the state $600 both for incorporation fees.Red, Inc. started operating its business on May 10.Can Rick or Red, Inc. deduct either of these organizational fees? Reference relevant sections of the internal revenue code
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Financial Accounting Fundamentals
Authors: John J. Wild
5th edition
1308500102, 1308500106, 78025753, 978-0078025754
