Problem:
Read IRC at https://www.fourmilab.ch/ustax/www/t26-A-1-B-VI-195.html
Read IRS Pub 535, pages 26 - 27 https://www.irs.gov/pub/irs-pdf/p535.pdf
Problem: Discuss the issues and consequences inherent in IRC section 195 including, but not limited to, the following:
1. Does 195 apply to all businesses organizations
2. Compare & contrast Startup and Organization expenses
3. What year must you elect to amortize Startup expenses
4. On what form do you amortize Startup expenses
5. On what form do you make the election to amortize Startup expenses
6. Discuss the issue of when does a business begin?