How Do You Deduct Business Start-Up Costs?
When running a business, it’s important to remember that there are incentives. Case in point–you can offset your revenues with your expenses. Here are some tips to deduct costs and make tax time a little sweeter for your business. Track Everything You’re likely to have expenses from the start–so it’s a good idea to get into the habit of monitoring your expenses. Track everything from equipment purchases to consulting services. You can also deduct marketing, furnishing and advertising expenses. If it relates to your business, deduct it. Hire a Pro It’s well worth the money to have an accountant! They can help you discover “hidden deductions” and also get you set up with a smart, easy way to keep track of your business financials. When you use someone with the knowledge that an accountant has, it just makes sense to start off right and make sure you’re complying with state and federal laws. And it’s professional too. Take an Upfront Deduction Here’s something good: You can write off up
