QUESTION
How can I deduct organization costs for an LLC in the first year of business?
Asked on Jan 18th, 2013 on Business Law - Tennessee
More details to this question:
I personally paid $862 for attorney fees and Tenn. filing fee and $1,200 in attorney fees for a Trademark. There are 2 members in the LLC. Is there any way to deduct these fees?
1 ANSWER
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Doland & Fraade
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Some business expenses can be deducted currently while others have to be amortized over a period of years. You should consult your tax CPA with your detailed issues on tax deductions.
Answered on Jan 24th, 2013 at 1:32 PM