No -- That would be "double-dipping."
You could enter the computer as an asset and take depreciation over a number of years, or if the cost is less than $2,500, you can take it as an expense (but not a startup expense).
You can deduct up to $5,000 of startup costs as a current business expense. The remainder is amortized over 180 months.
Start-up costs include:
- Survey of potential markets
- Advertising the opening of the business
- Consulting or other professional fees paid in connection with starting the business.
- Wages to employees being trained for the new business
- Analysis of possible facilities, labor force, supplies, etc.
- Travel and related expenses to secure distributors, suppliers and customers.
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