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?
Except for depreciable assets, expenses incurred before the business opens are generally "Startup Costs" that start once the business is actually open.
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")?
Except for depreciable assets, expenses incurred before the business opens are generally "Startup Costs" that start once the business is actually open.
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