bigchaz 157 Report post Posted December 1, 2006 Getting ready for business to start next spring, and doing tons of tax research. What I cant quite figure out is deductions. Im curious about deducting start up costs. For instance, Ive already purchased insurance and training information and in the next month possibly some equipment Can that be deducted on next years taxes? Is there a specific form to use for that? Share this post Link to post Share on other sites
Richard 17 Report post Posted December 1, 2006 Appreciating that there are very smart people on these bb's,my true response would be to check with your accountant.My accountant doesn't cost me a dime.In fact he makes me money.My plumber does plumbing,my electrician does electrical,I do the pressure cleaning and my accountant piles beans.His job as a proffesional is to save me money. None of that was said to be a smarta$$ or to offend the pro's on here that do there own accounting. Just my taxable two cents worth. Share this post Link to post Share on other sites
R L S 14 Report post Posted December 1, 2006 Thats right get an accountant and let them answer all your questions. People pay me for my knowledge and I glady pay my accountant and lawyer for the knowledge they have and that I lack. Share this post Link to post Share on other sites
Beth n Rod 1,279 Report post Posted December 1, 2006 Hire an accountant. There are different ways you can depreciate things, and what is best for your business at this time is something you need an accountant's help to determine. Beth Share this post Link to post Share on other sites
bigchaz 157 Report post Posted December 1, 2006 Ive thought about it, but for I'm only doing this during the 3 months when Im home from college. How much does an accountant cost? And would it be worth it for me personally, considering most of you make more in a month than I'll make in the year? Where do you go about finding an accountant? And would an accountant be willing to spend all that time working with someone with no employees and a part time business? Thanks yall Share this post Link to post Share on other sites
A and J POWERWASHING 64 Report post Posted December 1, 2006 good when your aunt own to h& r blocks in pa Share this post Link to post Share on other sites
Richard 17 Report post Posted December 2, 2006 The size of your accounting bill is relevent to how much business you do. You don't charge the same to wash a 1100sq ft house as you do for a 10,000sq ft.But they both need washing. Share this post Link to post Share on other sites
