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Get your taxes done using TurboTax
No. Start-Up costs can only occur BEFORE you ''open the doors''. Once you start doing business, you can claim your prior start-up costs in that year your business started. After opening, those expenses are normal operating expenses.
In the year your business opens, you can deduct all start-up costs from previous years, that year. Some startup expenses, such as organizational costs, can be either amortized or you can deduct the full cost in the year you open.
Some equipment you must purchase is treated as a regular business expense. For example, if you’re opening a landscaping business and you buy a truck, generally you must capitalize and depreciate the cost. Such expenses are treated just the same as they would be if you had been operating your business for decades.
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