Start-up Costs

Starting a business? How expenses will be treated on your tax return

Business Start Ups, Entrepreneurs, Small Business, Tax Deduction / Douglas Freeman

Government officials saw a large increase in the number of new businesses launched during the COVID-19 pandemic. And the U.S. Census Bureau reports that business applications are still increasing slightly (up 0.4% from April 2023 to May 2023). The Bureau measures this by tracking the number of businesses applying for Employer Identification Numbers. If you’re […]

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Entrepreneurs and taxes: How expenses are claimed on tax returns

2021 Tax Return, Business Start Ups, Entrepreneurs, Federal Taxes, Small Business, Tax Record Retention / Douglas Freeman

While some businesses have closed since the start of the COVID-19 crisis, many new ventures have launched. Entrepreneurs have cited a number of reasons why they decided to start a business in the midst of a pandemic. For example, they had more time, wanted to take advantage of new opportunities or needed money due to

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