Can I deduct startup costs irs?
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The IRS allows you to deduct up to $5,000 of startup costs in the first year of business, provided your total startup costs do not exceed $50,000. Any remaining costs must be amortized over 180 months. Startup costs include expenses incurred to create an active trade or business, such as market research, advertising, and employee training. However, costs related to acquiring business assets or inventory are not deductible as startup costs.