Best Tax Preparation Services in Hutchinson, KS

Business Start-up Expenses are DeductiblennIf you are thinking of taking the plunge and starting a business, here is some good news. Up to $5,000 of your start-up expenses are deductible in the first year of operations. These expenses would include expenses to investigate the venture and many costs that are incurred before the business actually begins. Any start-up expenses greater than $5,000 are amortized (deducted evenly) over 15 years. If your expenses are over $50,000 then the first year deduction starts to phase out and the whole amount will need to be amortized if your start-up expenses breach $55,000. However, most small businesses will not go over $50,000. nnThis deduction is a great way to recoup the costs of your initial expenses. If you would like to know more or contact me my website site is www.busenbarkwrightcpas.com. nnDan Busenbark, CPA...