Tax deductibles for new small businesses in the research phase?
Issue Demi-Ace ? Tax deductibles during the research phase of new small businesses
I am a fitness trainer, and he wanted a blog and a website that sold fitness equipment. I?m not sure if it is not yet profitable, but have bought some computer hardware and software to get started. Should I be my tax deductions, even if I do not have, or are not officially recognized as a business? I?ve read that you have 2 5 years to be profitable, so it does not become a hobby. ? All tips Best Answer:
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the best start-up costs and start-up costs are not deductible until you actually own the business. You can the limited off the first year and amortized over the remaining years.
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