Candlewood LLC began its business on December 1, 2023; and it uses a calendar tax...
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Candlewood LLC began its business on December 1, 2023; and it uses a calendar tax and an accounting year. Candlewood incurred $8,300 in legal fees for drafting the LLC's operating agreement and $4,150 in accounting fees for tax advice of an organizational nature, for a total of $12,450 of organizational costs. Candlewood also incurred $24,500 of preopening advertising expenses and $29,500 of salaries and training costs for new employees before opening for business, for a total of $54,000 of startup
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