In 2017, Marci is considering starting a new business. Marci incurs the following costs associated with this venture.
Marci started the new business on January 5, 2018. Determine the deduction for Marci's startup costs for 2017.
Definitions:
Actual Authority
An agent’s ability to affect the principal’s legal relations. Consent must be communicated to the agent.
Authorized Sale
A sale that is officially approved or permitted by the relevant authority or governing body, often following designated protocols or rules.
General Agents
Individuals authorized to perform a broad range of actions on behalf of another person or entity.
Special Agents
Individuals authorized to conduct specific acts or transactions on behalf of another person or entity, with their authority typically limited to a particular or singular task.
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