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Question: Can i write off business start up costs i incurred before my business officially launched?
(Posted by: DMBfan81 on 2010-01-20 22:17:00)
Hi Everyone, I am about to launch a home/ web based business and have just applied for a business license in my city. Obviously it's 2010 now, but I incurred start up expenses for my business in 2009 (mainly a very expensive international flight for March 2010 and costs associated with starting my web site). Should these expenses be written off on my 2009 return, even though my business technically had not launched yet? If no, would I be eligible to write these expenses off on my 2010 return even though these items were purchased in 2009? I am so confused here, and am really looking forward to your help. Thank you very much! |
