KeshaH
Expert Alumni

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This is still the same for 2024, you won't file a return until the restaurant/bar opens, and that's when you'll start deducting your start up expenses and organizational costs.

 

The first $5,000 of start up expenses would be deductible in the same year that the business opens. The rest of the expenses would be amortized over 180 months.

 

@AZRALPHIE