Thanks @ZoltanB45
All of the expense incurred in 2021?
From what read, only up to $5,000 of business startup and $5,000 of organizational costs from 2021 can be expensed the first year business starts running (2022). The the remaining can be amortized over a 180 month period. Additionally, business asset (e.g. furniture, appliance) can be depreciate when put in service upon business start or elect for bonus depreciation for new asset purchase or upon cost segregation study.
Can you help clarify? Thanks!
