Oksana Started an LLC on November 2 of the Current

question 1

Essay

Oksana started an LLC on November 2 of the current year.She incurred $30,000 of start-up costs.How much of the start-up costs can be immediately expensed for the year? How much amortization may Oksana deduct in the first year?

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Definitions:

Trillion

A numerical value represented as 1,000,000,000,000 (10^12), indicating a massive quantity, often used in economic and astronomical contexts.

Existing Assets

Tangible or intangible resources that a company currently owns and uses in its operations.

Financial Transactions

The exchange of monetary assets between parties, including buying, selling, or trading of goods, services, or financial instruments.

Used Goods

Items that have been previously owned and utilized by another party, often sold at a lower price than equivalent new items.