Business Plan Eatery
Can I deduct pre-business expense??
I am looking to start a Crepe Eatery in Los Angeles. I recently spent $1000 to buy a crepe machine to perfect the batter (though not yet successful). I have also gone to some seminars on how to start your own business. I am planning to go to San Francisco and check out all the Crepe Eateries there (it’s soo good!) However, I don’t want to proceed until I perfect the receipe — thus, I haven’t registered the business yet. I was wondering if I end up not opening the business because I can’t perfect the batter or if something goes wrong, am I still able to deduct it in my tax return next year (for 2008 tax year)? I have spent about $1700 so far. Thanks.
Also, where or what form would I use though?
Yes, start up expenses
any expense that is business related can be deducted.
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