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:

Text Messaging

The act of composing and sending brief electronic messages between two or more mobile devices or fixed or portable devices over a phone network.

Hand-Held Cellular

A portable device, often referred to as a mobile phone or smartphone, used for communication.

Cocktail Party Phenomenon

The capacity to concentrate one's listening efforts on a specific sound while ignoring other surrounding noises.

Posner Effect

A phenomenon in cognitive psychology indicating that attention can be directed to a location without the need for the eyes to move.