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How much of start up costs can be deducted 2024?

Isabella Patel | 2023-05-08 00:39:29 | page views：1283
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Ella Brown

Works at the Bookworm Literary Agency, Lives in New York, NY.
Furthermore, if your start-up expenses exceed $55,000 or more, you won't be able to claim the $5,000 deduction for the first year. For example, if start-up costs are $51,000, the deduction is reduced to $4,000. If start-up costs are $55,000 or more, the $5,000 deduction is completely phased out. Read more at IRS.gov.
2023-05-15 00:39:29
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Olivia Clark

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Furthermore, if your start-up expenses exceed $55,000 or more, you won't be able to claim the $5,000 deduction for the first year. For example, if start-up costs are $51,000, the deduction is reduced to $4,000. If start-up costs are $55,000 or more, the $5,000 deduction is completely phased out. Read more at IRS.gov.
Startup Cost Tax Deductions �C How to Write Off the Expense of ...
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