How do I deduct startup costs irs on my taxes?
Business_Expensessmall businessentrepreneursstartupstax
The IRS allows you to deduct up to $5,000 of startup costs and $5,000 of organizational costs in the year your business begins operations, provided your total startup costs do not exceed $50,000. If your startup costs exceed $50,000, the $5,000 deduction is reduced by the amount of the excess. Any remaining startup costs can be amortized over 180 months, starting with the month your business begins. Startup costs include expenses like market research, advertising, employee training, and professional fees.