Are legal fees and other business startup costs tax deductible
Yes, within certain limits, most start-up costs incurred after October 22, 2004 (when the American Jobs Creation Act of 2004 became effective), may be deducted in the business' first year. If the election to expense these costs is not made in the first year, or they are ineligible, such costs may still be amortized and deducted over a number of years.
Are legal fees and other business startup costs tax deductible
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