1 {{ upvoteCount | shortNum }}
1 {{ upvoteCount | shortNum }}

Tax question

by VMB
1 replies
I'm creating an information product company that won't be launching until around March of next year.

I won't be forming the LLC and doing any sales until 2013. Basically, I need to know if I can write off 2012 startup business expenses when I go to do the 2013 taxes for my business after I've earned money.

Basically, I want to know if I can have the website designed/coded now ($3000 range), or if I should wait until next year (as the same year as i start making sales)? I'd like to get the website up and running now, but if i wont be able to write it off as a business expense when I start earning money, I'd rather just wait.
#question #tax
  • Profile picture of the author icoachu
    You incurred the expenses this year. So you claim it this year IF the product is launched by your existing company/corporate entity and you have other revenues this year. If you generate a LOSS this year, you can carry forward some of those losses to next year for tax relief. Talk to a tax attorney for bulletproof advice.
    Signature
    {{ DiscussionBoard.errors[6804556].message }}

Trending Topics