In today’s episode, I’m diving into the topic of startup expenses, the deductions available for new businesses and some of the benefits the tax code provides to new businesses. I give examples of qualifying startup expenses and sharing some information on when you can deduct these expenses on your taxes. 

 

Listen to this episode to get helpful guidance on taking advantage of tax deductions available in the early stages of a new business.

 

 

Also mentioned in today’s episode: 

 

• What are startup expenses 8:00

• What’s included in the startup expenses according to the IRS 10:05

• When can you deduct your expenses on your taxes 12:30

If you enjoyed this episode, please rate, review and share it! 

Links:

More Sunlight episodes to help you start your business:

 

• Episode 20: Pricing and Business Lessons

• Episode 44: S Corp Mistakes That will Cost You Thousands

• Episode 50: The One Thing You Must Do in Your Business

• Episode 67: Your Business Already Started

• Episode 68: The Right Step at the Right Time

Free 20 Minute Course on Filing your BOI Report for LLCs: www.sunlighttax.com/llc

 

IRS Proof Your Business Deductions