Incorporation legal fees tax deductible

[bumsokee]

I incorporated a business in 2015 through a lawyer. I paid the lawyer $2,500 to incorporate the business. Can I deduct the $2,500 legal fee on my tax return?

[DS30 · Accepted solution]

No, you will not be able to deduct these legal expenses on your personal income tax return. Instead, they would become part of your start-up costs in your business and you would amortize them over 60 months