I've been working on getting a cattery business started for many years. I've invested well over $10,000 on the cost of cats with registration papers, veterinary bills, food, CFA and TICA registrations, renovating a room in the basement to make suitable for a breeding kennel, etc.
These expenses go back roughly 10 years, but I have not registered an LLC yet because I was not ready to actually breed and sell any cats until just this year. I've saved receipts/invoices for all of the biggest expenses over the years, but I'm wondering if I can write them off next year when I do my taxes. For example, the first male I purchased with breeding rights cost me $2,000, and he later had a medical issue which cost me about another $5,000 (he swallowed chunks of rubber floor mat), but both of these costs occurred more than 3 years ago. Are these still eligible tax-writeoffs for when I do my taxes next year?
How far back can I go to find business expenses and capital investments to write-off for my cattery business startup costs? I simply didn't have enough money to make all of these investments all in the same year, so I'm hoping I can still get credit for them all as tax writeoffs next year.
