Business, 25.03.2021 02:10 scottmichetti

Nancy, the owner of a very successful hotel chain in the Southeast, is exploring the possibility of expanding the chain into a city in the Northeast. She incurs $35,000 of expenses associated with this investigation. Based on the regulatory environment for hotels in the city, she decides not to expand. During the year, she also investigates opening a restaurant that will be part of a national restaurant chain. Her expenses for this are $53,000. The restaurant begins operations on September 1. Determine the amount Nancy can deduct in the current year for investigating these two businesses.

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Nancy, the owner of a very successful hotel chain in the Southeast, is exploring the possibility of...

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