Martha was considering starting a new business. During her preliminary investigations, she incurred the following expenditures:
|
Salaries |
$20,000 |
|
Travel |
18,000 |
|
Interest on short term note |
2,000 |
|
Professional fees |
13,000 |
Martha begins the business on June 1 of the current year. If Martha elects § 195 treatment, determine her startup expenditure deduction for the current year.