Taxpayers may always expense a portion of start-up costs and organizational expenditures.

Question

Quizplus · Accepted Answer

Taxpayers are generally required to capitalize start-up costs and organizational expenditures and amortize them over a period of time. However, there are some specific expenses that can be deducted in the year they are incurred, such as up to $5,000 of start-up costs and $5,000 of organizational costs. Any remaining costs must be amortized over a 180-month period.

Taxpayers May Always Expense a Portion of Start-Up Costs and Organizational