Repercussions of Taxes on a New Enterprise
Numerous tax concerns arise during the inception of a new enterprise. This article will discuss some of the tax implications of starting a business and becoming your own boss. Certain costs associated with a new business can be deducted from the owner’s taxes. Expenses made or expended before, during, or in preparation for the launch of a business are known as “startup costs.” You may deduct up to $5,000 in