Best Answer Click here
See this link to get started.
https://www.irs.gov/newsroom/heres-how-businesses-can-deduct-startup-costs-from-their-federal-taxes
Thank you. I did read this article. I just wasn't sure if I can use the description of start up cost and just use 15 yrs. or if I had to use a breakdown or how exactly to report this.
You can expense up to $5000, and you need to amortize the balance up to a max of $50000. here is a link for a great article with details.
https://www.thetaxadviser.com/issues/2017/sep/deducting-startup-expansion-costs.html
View solution in original post
Thank you. This is perfect.
