How do you determine what is deductible for start up taxes?
I am starting an online retail business and have bought market research tools and website building software. Also I just got a dba. My site is not yet published on the net.
Couple of questions…
what can i deduct as start up deductions?
Did getting a dba officially start my business?
What sort of time restrictions go along with start up tax? ( i
bought the software listed above in 07 and got the dba in 08)
what sort of reciepts should I be saving?
I know …I need an accountant!!! lol. PLEASE HELP!!! Quality info is needed! thanks!!!
August 1st, 2009 at 7:08 pm
If this is the US, there’s no such concept as start up deductions. They’re all just deductions, and almost everything counts.
August 4th, 2009 at 6:19 am
Go to HR Block.com when you are going to file if you aren’t going to use an accountant. They will ask you about your expenses, profits. Generally you want to keep all of the receipts from the money you spend on everything you use for your business. You can deduct a portion of just about everything even meals. The software will deduct the proper amount for you when you fill in the answers while you are filing