Can I deduct amortize startup costs?
Business_Expensessmall businessstartupsentrepreneurs
Startup costs are expenses incurred before a business begins active operations. The IRS allows you to deduct up to $5,000 of startup costs in the first year, provided your total startup costs do not exceed $50,000. If your startup costs exceed $50,000, the $5,000 deduction is reduced dollar-for-dollar by the amount over $50,000. Any remaining startup costs must be amortized over 180 months (15 years). Examples of startup costs include market research, advertising, employee training, and professional fees.