I have taken a contracted employment position and will get paid for completing a specific task. I was required to complete several hours of training without compensation before being assigned work. In addition, I spent time researching this work and setting up business processes for this self-employment work. Can I deduct my time spent in training, researching and setting up business processes as a business start-up cost? If so, how to do I value my time?
Also, once assigned work, I am required to participate in one hour of training every month and have the option to participate in additional trainings/meetings each month. Since this time is in addition to the work I'm contracted to perform, is my time spent in these training/meetings a deductible business expense? If so, how would I value this time?
