Business, 18.06.2021 03:10 yselahernandez02

Ajax Inc. was formed on April 25 and elected a calendar year for tax purposes. Ajax paid $11,800 to the attorney who drew up the articles of incorporation and $5,700 to the CPA who advised the corporation concerning the accounting and tax implications of its organization. Ajax began business operations on July 15. To what extent can Ajax deduct its $17,500 organizational costs on its first tax return

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Ajax Inc. was formed on April 25 and elected a calendar year for tax purposes. Ajax paid $11,800 to...

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