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We are a pure start-up and we just raised $6M and I want guidance

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on classifying costs related to...
We are a pure start-up and we just raised $6M and I want guidance on classifying costs related to closing the financing i.e what can be charged against the proceeds and what has to be charged to P&L. thanks
Submitted: 7 years ago.Category: Tax
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Answered in 7 minutes by:
6/3/2010
Tax Professional: RD, Certified Public Accountant (CPA) replied 7 years ago
RD
RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8,784
Experience: CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
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Is $6 M loan taken by you? What is the loan for?
IS your question related to closing costs for the loan?
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Customer reply replied 7 years ago
It is not a loan, it is a Series A capital financing. My question concerns costs associated with the funding i.e legal costs for company and investor, appraisal for FMV of common stock, success fee as % of capital raised, I want to know what I can apply against the proceeds and what I have run through the P&L. Thanks
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