How much of your business expense is tax deductible?

[thisen]

Hi,

Last year, I setup a sole-proprietorship small business (I have a full time job). I spent close to $10,000 on setting up the business. And I have not made any profit (yet). Can I deduct all of $10,000 or is there a limit on how much of it is tax deductible?

 

[the tax lady]

Have you had ANY income?

Start up costs cannot be deducted/amortized until you open for business.

 

[the tax lady]

Have you had ANY income?

Start up costs cannot be deducted/amortized until you open for business.