When did my business start?

mipascale · ‎June 6, 2019

I went to home inspector school in October 2016, passed my state licensing test in November, purchased liability insurance in December, set up my LLC in February 2017, I had no income from my new business in 2016.

What date can I use for when my business started, November 10th when I passed my state licensing test, or February when I set up my LLC?

What can I claim in 2016?

RichardG · ‎June 6, 2019

The costs of going to inspector school and taking the exam are not deductible. The IRS does not allow tax deductions for costs associated with entering a new trade or business. Your only deductible expense for 2016 is the insurance premium.

Your business started sometime after November 10, whenever you began holding yourself out as a house inspector and soliciting business.

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When did my business start?

Business & farm