Thank you for your reply, I very much appreciate it. I do want to drill down a little bit further, if you'll allow.
First, the business will be structured as an LLC. I already have a few and am familiar with the filings for regular operations. (I'm a retired CPA myself, though not from a tax practice.). This will be, though, the first business I've built and owned that has a website that's a key part of the business. I may have to pay the contractor at least half the $5,000 cost to develop the site in the month of December. If possible I'd postpone all payment to the contractor until January 2024.
If I did delay the total payment and deployed the website in 2024, would I treat that cost as a startup cost to be amortized, a single payment to a contractor to be expensed on Schedule C, or could I take a Sec. 179 deduction? If I have to pay half the cost in 2023, does that portion of the cost become startup cost, will the remaining amount also be part of the startup cost, or will I have options to handle the two payments differently?
Again, thank you very much for help. I appreciate it very much!
David
