Startup Costs Tax Deductions
Pre-launch and early-stage expenses that qualify as deductible startup costs. The IRS allows up to $5,000 in immediate deductions with the rest amortized over 15 years.
startupnew businesspre-launchentrepreneurshipamortization
check_circleWhat You Can Deduct
- checkBusiness plan consulting
- checkMarket research surveys and focus groups
- checkPre-opening rent and utilities
- checkTraining employees before opening
- checkLegal entity formation fees
- checkInitial branding and logo design
lightbulbTips for Keeping Records
- tips_and_updatesTrack expenses from the moment you start exploring the business idea
- tips_and_updatesCosts incurred before the business opens are startup costs, not operating expenses
- tips_and_updatesIf total startup costs exceed $50,000, the $5,000 deduction begins to phase out
- tips_and_updatesKeep a clear log of the date your business officially began operations
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