- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
You would claim the start up deductions in the year you actually start your business and you can claim expenses going back a year. Most everything you listed above would be assets that are not deductible but rather depreciated. Materials and supplies, organizational costs, advertising would be start up costs.
I can't give a definitive answer on the business incubator. I would say the cost involved in getting in would be a startup cost, but once in then the costs would be deductible business expenses. Generally you need to have a business in place and then get into the incubator to lower your overhead and have guidance and training to be successful.
You may want to try search for anyone who has used the business incubator to see what their experience was like.
I can't give a definitive answer on the business incubator. I would say the cost involved in getting in would be a startup cost, but once in then the costs would be deductible business expenses. Generally you need to have a business in place and then get into the incubator to lower your overhead and have guidance and training to be successful.
You may want to try search for anyone who has used the business incubator to see what their experience was like.
‎June 3, 2019
11:34 AM