My wife and I attempted to open a small business during 2022, and spent money on it on things that would normally be counted as business expenses in preparation for opening (mostly on supplies). However, it has not gone the way that we've planned so far, and don't have any sales/income for the business. We're also not really actively engaged in the business anymore/generally lost interest, so not likely to have any sales in the future either. We did get an LLC and tax ID number earlier in our opening efforts.
My question is: should we still be claiming our spend in attempting to launch as business expenses? Or would these only be counted at the point once we're actively doing business? Thanks to all for any guidance, just looking to make sure we do the right thing here.
