Vanessa A
Employee Tax Expert

Get your taxes done using TurboTax

No, you will not be able to deduct your start up costs until 2022 or whenever you actually open your doors. 

 

Also, your start up costs will include ALL the costs to start the business.  Land, building, equipment, advertising, etc that is stated at less than $50,000 may raise a red flag.  If the costs are more than that total, you will need to amortize the costs.

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