How to Write Off Startup Expenses in 2024

YES, you can write off startup expenses for a small business. Here's what startup expenses are deductible, how to claim the startup deductions, and what happens if your business fails to actually launch.

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Outline:
Intro: 0:00
How write-offs work: 0:40
What are startup costs are deductible? 1:17
How much startup expenses can you deduct? 2:53
How to claim a deduction for starting a business? 4:42
What if you don't launch? 5:25
Watch this next: 5:52

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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).