I have been in the process of starting up a small business over the last few years. The business has not generated any income as of yet.
My question is when do I include these start up fees? Do I add them up over the years and submit ALL once the business is operational? Or should these fees have been filed and included on the specific tax years? (i.e. in 2015 I spent $4k, should that have been included on my 2015 taxes) (If the latter do I amend my taxes for 2015 and 2016 to cover these expenses - I have not filed 2017 yet)
I am also confused on what is considered start up costs. Can I include the costs to design the company logo, website, filing fees? As well as the content that has been created. For example I will be selling t-shirt designs. I have been working with artist to create concepts and ideas, many of them will not be used but have helped create the final product. Would that be considered start up expenses?
Thanks I really appreciate your guys knowledge and assistance.
