Should we capitalize or expense these organization


When we started our company we hired a lawyer to file the required papers with the state and to secure any licenses and permits we needed to conduct business also to create any internal legal documents we would need (employment agreements, etc).

The lawyer charged us $48,000 for the work.

Should we Capitalize or Expense these organization costs? Why? or Why not?

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Accounting Basics: Should we capitalize or expense these organization
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