Should I file start up costs for a small start up business if I haven't started earning money yet?

[WillK · Accepted solution]

Any startup costs are not deductible until the business begins operations. You can deduct $5,000 of your start up costs on the tax return the year your business is operational. Anything above and beyond $5,000 gets amortized over 180 months. Click here to read more about that: https://www.irs.gov/publications/p535/ch08.html