Mr. Zan, a calendar year taxpayer, opened a new car wash. Prior to the car wash's grand opening on October 8, Mr. Zan incurred various start-up expenditures (rent, utilities, employee salaries, supplies, and so on). In each of the following cases, compute Mr. Zan's first-year deduction with respect to these expenditures. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Required: a. The start-up expenditures totaled $4,830. b. The start-up expenditures totaled $30,200 c. The start-up expenditures totaled $52,960. d. The start-up expenditures totaled $91,260. Amount a Deduction S 4.830 b. Deduction c. Deduction d. Deduction

Mr. Zan, a calendar year taxpayer, opened a new car wash. Prior to the car wash's grand opening on October 8, Mr. Zan incurred various start-up expenditures (rent, utilities, employee salaries, supplies, and so on). In each of the following cases, compute Mr. Zan's first-year deduction with respect to these expenditures. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Required: a. The start-up expenditures totaled $4,830. b. The start-up expenditures totaled $30,200 c. The start-up expenditures totaled $52,960. d. The start-up expenditures totaled $91,260. Amount a Deduction S 4.830 b. Deduction c. Deduction d. Deduction

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter12: Tax Credits And Payments

Section: Chapter Questions

Problem 26P

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