How to Write Off Start Up Costs

This video is about how to Write Off Start Up Costs to lower your taxes and save you money!

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[goldenheartsus]

I could watch you all day. You are so informative and animated and l love it

[Dave-ywwc]

Currently in the starting phase starting an LLC and fixing up a property to rent out in the near future. Currently Acquiring the tools and equipment to renovate my current project and future rental homes. Glad to know if I don't make my first buck this year I can still write off the costs. The tools for my business are expensive but excited to start a company!

[astracey]

Good Lord, THANK YOU for this simply put HOW to!!! I've watched a few videos now & see comments saying how much they helped & I'm sitting here like "Ummm....Yeah I'm gonna need that dumbed down a bit more". Doesn't help that I'm way too ADD to listen to some drawn-out stuff that I'll later hand over to a CPA. I will come to your page first from now on!

[joshjones]

Good video. Thank you for the work you put in.

[andreib]

Thank you Mark! Great information, as always! Keep doing what you do!

[jayjuggrnaut]

Well done video. I am in startup phase and was wondering should I file taxes today (it's April 16th) today. With zero revenues, I guess not. Thanks for the engaging and informative presentation.

[dannymartial]

I didn’t know about the fact that you had to make a first sale for it to count. So if you’re making a mobile app, it doesn’t count until you get your first advertisement check/app store purchase?

[abcxyz]

+Mark j Kohler
2 questions. 1. Can I write off the cost of my single member LLC formation and cost of first year resident agent fee? 2. Can I write off the monthly checking fees? Great content thank you

[financialfrugality]

What if you're starting before December, but never actually made a sale a few months later, rolling into next year? How does writing that off work?

[Selflovingsoul]

Thanks for this, Can you write off a business course as a business expense?

[CodyHill]

So, if I don't have an S-Corp set up YET, Can I write off things that I'm buying now, as I'm getting started?

[LanaOkeaness]

Do i have to form an LLC for this start up write off to kick in?

[DragonsGaura]

But how do you write it off? What is the process of doing it

[Goshakovski]

what happens if i didnt have enough money when i started up and didnt buy labels and stuff like that can i still include that?

[massaqueful]

Hi, what if you register your business in October but don’t sell anything until January? Startup costs in 2018 first sale in 2019. Thank you your video was very helpful

[ShawnDietzer]

Another excellent video, thanks! When are you technically in business if your business is renting residential properties?

[ahavahhesed]

so when you log a purchase made for your business do you get to write off the entire purchase price (sales tax included)?

[dutrinh]

You are so smart. Thank you for you tips

[BladeBarn]

what about if I buy an existing business for 550k that makes 200k/yr? going thru SBA the payments are 13.8k/mo or 165k a year? so would it be 200k-165k in acquisition cost=35k taxable position?

[moremustard]

I am sure there is good advice in here, but the volume of the music was so high it was in competition with your voice. After a minute or so, it got so annoying and frustrating that I turned it off. Some friendly constructive feedback (I am in the psych field): spoken content is more easily absorbed and processed by the brain without background music. It is fine to have intro/outro music, but when you are lecturing with the goal of retention and later recall, background noise is a barrier to effective cognitive processing. If you must use it, make it about 1/5 the volume of your voice, in other words, barely audible, but silence is definitely preferred. This is why TED talks are in a silent room. :)