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Article Highlights:
• $5,000 first-year start-up expense write-off
• Start-up expense write-off limitations
• Timely filing requirements
• Qualifying start-up expenses
Business owners – especially those operating small businesses – may be helped by a tax law allowing them to deduct up to $5,000 of the start-up expenses in the first year of the business’s operation. This is in lieu of amortizing the expenses over 180 months (15 years). Read More
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