If i register my business tommorrow but buy things tonight can i still get a tax break or should i wait til i am official (tommorrow)?
2007-08-15 12:28:43 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ Other - Taxes
Either is fine. As long as things are for your business. Now if you bought something 10 years ago, used it personally for those 10 years, and then used it for business, and tried to deduct the cost, then you got a problem.
2007-08-16 02:39:20 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Nope, I throw away the reciepts as once I get issues in existence I continuously think of it is what i want/or will artwork and don't plan on returning! I purely take care of each and all of the junk and get new issues in existence! :) save on trucking!
2016-12-12 03:15:42 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Nope. The minute you started working for yourself, you became a sole proprietor as far as the IRS is concerned. Registering just makes you look more legitimate to people buying your goods and services.
2007-08-15 12:37:09 · answer #3 · answered by r2mm 4 · 0⤊ 0⤋
Start-up expenses are deductible but only after the venture is "open for business".
2007-08-15 13:41:08 · answer #4 · answered by Wayne Z 7 · 0⤊ 1⤋