I currently am employed and receive a yearly W2 form. This year I started an LLC on the side of my main source of income and plan to writeoff 5k in startup expenses on my taxes.
Start-up Cost - Deduct Business Start-up Costs
Can I add this to the standard deduction. The standard deduction is probably more than 5k so it woldn't be beneficial to substitute the 5k startup writeoff for the standard deduction.
Start-up Cost - Deduct Business Start-up Costs
Can I add this to the standard deduction. The standard deduction is probably more than 5k so it woldn't be beneficial to substitute the 5k startup writeoff for the standard deduction.