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Ms Client opened her first bicycle shop (Schedule C) on August 1, 2020

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Ms Client opened her first bicycle shop (Schedule C) on August 1, 2020. Here is the complete list of expenditures she made earlier during 2020toward achieving this dream:

• $800,000, all-in cost of land on which to build

• $260,000, all-in cost of building construction

• $90,000, computers, furniture, display racks, signage, tools & equipment, etc. (usual bike shop PP&E)

• $75,000, opening-day inventory

• $24,500, attorneys' and CPA fees

• $8,000, travel (trips to bicycle manufacturers' plants, bicycle trade shows, etc.), excluding meals

• $450, local transportation (standard mileage rate, parking, tolls) 

• $9,000, pre-opening employee wages (training, etc.)

• $7,000, advertising

• $1,600, prepaid "Grand Opening Bash" expenses

• $800, utilities

Calculate and state Ms. Client's 2020 start-up cost deduction. Add commentary explaining / defending your calculation(s).