I agree with Tagteam. there are many tax laws affecting your LLC . for example the section 195 election to deduct start up costs. failure to make this election , the IRS could disallow any deduction for these. do the tools qualify under the de minimus rules or is it better not to deduct fully in first year because you'll be in higher tax bracket next year. you are doing a project that might be subject to the cost capitalization rules. do you know these tax laws?
