- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Is business license fees considered to be a sturtup costs for sole proprietorship?
Having sole proprietorship opened for less than a year (started in 2018), I wonder what section of TurboTax app I should add expenses for things like Fictitious business name advertisement, city zoning fees and business lic fees. Technically I paid those expense before business was opened, from my personal bank account. Is it considered to be a startup costs, or just regular business expenses? Thank you
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Is business license fees considered to be a sturtup costs for sole proprietorship?
These expenses are not start-up costs. They are regular business expenses.
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.
**Mark the post that answers your question by clicking on "Mark as Best Answer"
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Is business license fees considered to be a sturtup costs for sole proprietorship?
These expenses are not start-up costs. They are regular business expenses.
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.
**Mark the post that answers your question by clicking on "Mark as Best Answer"