BC Advantage - 2006 Issue 3

New tax change allows startup costs deduction

One of the most frustrating tax issues for entrepreneurs has been startup costs - they pour thousands of dollars into market research, advertising and other expenses to get their companies up and running, but have had little in the way of immediate relief from the government. But, with a change in the Internal Revenue Code that took effect Oct. 22, 2004, companies - including many filing their first tax returns this year - are now allowed to deduct $5,000 of their startup costs. Any expenses above that amount must be amortized, or depreciated, over the next 15 years ...

To read the full article, sign in and subscribe to BC Advantage.

Access to this feature is available in the following products:
  • BC Advantage, 30+ CEUs & Webinars

demo
request yours today
 subscribe
start today
 newsletter
free subscription

Thank you for choosing Find-A-Code, please Sign In to remove ads.