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Financial Planning / Tax Strategies


Subject:  Re: Start up tax question Date:  12/22/2008  1:25 PM
Author:  ptheland Number:  103129 of 130016

Schedule C would be the right place, since this business venture is neither a partnership nor a corporation. And I'll assume it's not a farm or rental of real estate (which would go on schedules F and E, respectively.)

But the real questions is if you can deduct these expenses at all. It sounds like these might be start-up expenses. Those are deductible only after you actually start the business.

One of your stops as you start getting ready to go into your own business should be with a qualified tax pro to go over these kinds of issues. They can also help you decide what form your business should take - proprietorship, LLC, C corporation, or S corporation.

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