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Toby,owner of a Cupcake Shop in New York,is Considering Opening

question 35

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Toby,owner of a cupcake shop in New York,is considering opening a similar business (i.e.,a cupcake shop) in Phoenix.After spending $4,200 investigating such possibilities in Phoenix,Toby decides against opening the store.What is the maximum amount of deduction for the current year attributable to these expenditures?

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Definitions:

Job Activities

The specific tasks or work assignments that an individual or group is responsible for completing as part of their job.

Drawings

Visual representations that detail the specifications of objects, structures, or systems.

Planning And Control

The process of strategic decision making and operational oversight to manage an organization's resources efficiently and effectively to achieve desired outcomes.

Empowered Individuals

People who have been given authority and responsibility, enabling them to take action and make decisions independently.

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