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Start-up costs which can be immediately deducted is $5,000
$5,000 in start-up costs can be deducted right away. If start-up costs exceed $50,000, the $5,000 maximum is phased out dollar for dollar.
The IRS refers to these start-up costs as "business start-up" and "organizational costs," and depending on how much you spent, you can usually claim all or a portion of them on your income tax return in the year you started your business. You can also "amortize" (spread out) the remaining costs over a period of time.
Before starting or purchasing a business, you will almost certainly conduct extensive analysis and research. The money you spend on market research, developing your product, looking for office space, advertising your business launch, and anything else related to investigating, launching, or purchasing a business is generally deductible.
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