Puloso Company, a calendar year taxpayer, incurred the following start-up expenditures before the opening of its new health and fitness center. Rent on commercial space?$ 6,000??Utilities?1,490??Staff hiring and training?5,270??Television advertising? 1,600????$ 14,360???The Puloso Center opened its doors for business on March 21 of the current year. How much of the start-up expenditures can Puloso deduct this year?
A. $14,360
B. -0-
C. $5,000
D. $5,520
Answer: D
You might also like to view...
A retailer can purchase a private-label bread for 59? a loaf. The bread sells for 89?. Total direct retailing costs for the bread (warehouse costs, direct labor, and spoilage) equal 10? per loaf
In addition, 5? per loaf is charged for administrative overhead. What is the direct product profitability per loaf? a. 20? b. 30? c. 45? d. The answer cannot be determined from the information provided.
Everyone ____ to work overtime tonight to meet the customer's deadline
A) plan B) plans
For flow-through entities, such as partnerships how does the tax law use partner basis adjustments to prevent double taxation of partnership income?
A. income of the business is passed through to the owners, who pay the taxes on their individual income tax returns. B. income of the business is passed through to the corporate, who pay the taxes on their individual income tax returns. C. income of the business is passed through to the limited liability, who pay the taxes on their corporate income tax returns. D. none of the above.
Ziker Golf Company evaluated a project as a risky project. Ziker generally evaluates projects that are riskier than average by adjusting its required rate of return by 4 percent. If Ziker expects 12% return on average risk projects, then it should expect a return of _____ for a risky project.?
A. ?8% B. ?12% C. ?16% D. ?10% E. ?48%