Tax & Financial Consulting Services
Tax Benefits for Thinking About and/or Starting a New Business
Karibu (Welcome) G&G Readers,
Question: At what point do the tax benefits start when you get into a new business (perhaps first business)?
Answer: The breaks start when you think about starting the new business.
Tax law’s official name for these thinking-about-it expenses is “start-up” expenses.
Don’t Miss Out on this Deduction
Experience shows that you will do one of four things with your start-up expenses (three of which are bad):
1. Take no deduction because you did not know that you could deduct the expenses of investigating and planning for a new business. (Most taxpayers do not know about the start-up rules and cheat themselves out of the deductions.)
2. Take the start-up deductions incorrectly as business deductions (cheating the government—until you’re caught).
3. Capitalize the expenses, thereby cheating yourself of the deductions until you sell, close, or otherwise dispose of the business.
4. Correctly claim business start-up expenses.
The biggest failure for most is lack of knowledge. But, because you are now reading this article, you no longer suffer this disability...
Click below for full article:
Visit our website for more information or contact us today to set your appointment if you need a “TAX” OR “FINANCIAL” one-on-one consultation.
Until the next time!
Ankh Uja Snb (Life, Strength, & Health),
Asar Gary Gray
Tax & Financial Consultant, RFC
866-361-3872 toll free fax
G&G Associates & G&G Travel are on Facebook, join our fan page.
**You must be a G&G Associates tax client to receive the $40 referral fee
*** [Price Guarantee does not apply to individuals, corporations or partnerships filing refunds pertaining to Revenue Ruling 2009-20/2009-09, ‘Ponzi Schemes’ or VA Amendment CFR 26 § 1.122-1]
P.S. If you're not a GGIS Paid Subscriber reader yet, why not? Currently, our GGIS portfolio is packed with great plays to keep your portfolio for profitable in 2011.
P.S #2 If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the “G&G Travel” link and let your travel planning begin. Let us know where you want to go and we’ll do our best to find you the best deal your money can buy. Become a Fan of G&G Travel on Facebook.