Hello,
I recently started a Single LCC, and will be choosing to be taxed as a sole proprietor. I understand a new businesses can deduct up to $5,000 in taxes for startup costs and an additional $5,000 in organizational costs. I also have a W2 I will be receiving this year.
I have the following expenses I will be deducting for my new LLC:
1. Home office
2. Car miles for business seminars to obtain new business for startup
3. Cost to file for LLC and EIN
4. Plane flight costs associated with seminars to obtain new business for startup
5. Hotel costs for associated with seminars to obtain new business for startup
6. Social media costs for marketing
7. New laptop and Business Phone cost
8. Utilities and phone bill
Can you clarify which business costs fall under start up costs and organizational costs?
