Are My Business Start-Up Costs Deductible As Current Operating Expenses?
Expenses incurred or paid before a business starts operations are considered capital expenses. In recent years up to $5,000 ($10,000 in 2010) of the first 60,000 were able to be elected to be expensed with the balance capitalized over 180 months. There are limitations if the total costs exceed a certain amount. $60,000 in 2010)
Note If you need professional help with "Business Start-ups" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.