Is equipment purchased in the process of starting an LLC tax deductible in the first year of operation? Ex. I purchase an iPad to start my calligraphy business.

[lindsay-bruno-03]

I am starting a small business for calligraphy (single member LLC) and will be purchasing an iPad, some software, and some other tools/equipment. Can I deduct these costs as start up expenses in my first year of operation?  What about general supplies like paper, ink, etc.

[MarilynG]

Yes, start-up expenses up to $5000 can be deducted as Business Expenses. You can total your start-up expenses and label the amount as 'Start Up Expenses', or you can deduct each item individually.

Amounts over $5000 can be claimed under 'Assets'.

General supplies like paper, ink, etc. are also deducted under Business Expenses. 

Here's more detailed info:

https://ttlc.intuit.com/replies/5146525

[lindsay-bruno-03]

Does the timing matter?  If I purchase the items prior to formation of the LLC, can I still deduct them?

[MarilynG]

Yes.