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The following facts pertain to Catchall Consulting, a sole proprietorship owned by Peabody: 20X09 net profit or (loss): ($ 5,000) 20X10 net profit or (loss):
The following facts pertain to Catchall Consulting, a sole proprietorship owned by Peabody:
20X09 net profit or (loss): | ($ 5,000) |
20X10 net profit or (loss): | $ 250 |
20X11 net profit or (loss): | $ 500 |
20X12 net profit or (loss): | ($ 1,200) |
20X13 net profit or (loss): | $ 800 |
In 20X14 Peabody gave out 50 promotional clipboards to prospective clients, at a cost of $3 per clipboard. What amount of business expense can Peabody include, as a result of the clipboards, on Peabodys 20X14 Schedule C?
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