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Business & farm
Your startup expenses are just added up and saved until you launch. You don't have to wait until you make money but you should be able to demonstrate that you are trying to make money. At that point you can deduct a portion of your startup costs ($5000 as long as the total doesn't exceed $50,000) and then deduct the rest of them over five years.
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May 1, 2025
10:22 AM