Totals, Taxes, & Timing
Understanding what costs are tax deductible
Launching a new business is exciting. However, there may be some unforeseen costs that can slow down production. Luckily for you, the IRS tends to cut new business owners a break when it comes to their taxes. In fact, start-up business costs are tax deductible!
“What type of start-up business costs are deductible?” you may ask.
Well, we have the answers right here. Check it out!
- Market Research
- Analysis Software
- Training Costs
- Office Supplies
- Locating Scouting
- Online Marketing
- Website Costs
- Digital Media
Legal & Accounting Fees
Adding more deductions to your list
Legal & accounting fees are also recognized as being tax deductible for start-up businesses. These fees are only deductible as business start-up expenses, and you can even deduct $5,000 of legal & accounting start-up expenses during the first year that you’re in business.