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Level 2
posted Jun 1, 2019 3:57:30 PM

Can I deduct lawyer expenses for setting up my LLC? If so, where do I do this at? Also, do I need to create a 1099 MISCfor them?

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2 Replies
Expert Alumni
Jun 1, 2019 3:57:31 PM

The LLC can deduct lawyer expenses for setting up the LLC as organizational costs.

Yes, the LLC should issue the lawyer a form 1099-MISC if the amount paid is more than $600.

Start-up costs include any amounts paid or incurred in connection with creating an active trade or business or investigating the creation or acquisition of an active trade or business. Organizational costs include the costs of creating a corporation.


Level 2
Jun 1, 2019 3:57:32 PM

What do you mean with 'organizational costs'?  Are you suggesting I will have both?  If so, can you clarify the difference?