Moon Valley Accounting & Tax Services

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When Can You Report Start-Up Expenses?

According to IRC Sec 195(b)(1)(A), a company can deduct start-up expenses in the tax year when the trade or business becomes active. The allowable deduction is the lesser of the actual start-up expenses or $5,000. However, if the total start-up costs exceed $50,000, the $5,000 deduction is reduced dollar for dollar for any amount over $50,000, until it is completely phased out. for more visit

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