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A business msy elect to deduct a limited smount of startup costs in the yesr the...

A business msy elect to deduct a limited smount of startup costs in the yesr the business begins. What is the maximum amiunt in the current tax year?
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The maximum start up costs that can be deducted in the current tax year is $5000. The company may also deduct up to $50,000 as business organization expenses.

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