BeckyTX
Level 1
12-06-2019
11:14 PM
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LLC single member incorporated in August,2018 and had some expenses. But business actually opens next month. There is no business income or personal income. Should I file tax this year for client? If I don't file, can we use these expenses in 2019 tax return?
Thanks alot.
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TaxGuyBill
Level 15
12-06-2019
11:14 PM
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When you say "incorporated", do you mean they FORMED the LLC, and that is the expense that you are talking about? A LLC is not "incorporated" (which is for "corporations")?
BeckyTX
Level 1
12-06-2019
11:14 PM
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Yes, Formed the LLC. And the expenses are for legal fee, Cars, software.
TaxGuyBill
Level 15
12-06-2019
11:14 PM
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Except for depreciable assets, expenses incurred before the business opens are generally "Startup Costs" that start once the business is actually open.
beckynguyentx
Level 3
12-06-2019
11:14 PM
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THANK YOU,
