Archive for June, 2006
Kevin J asked:
Hi,
I started a new LLC company recently. I am incurring some expenses for setting up my company. But, there may not be income generated for atleast one year. Since I have only expenses and no income, can I claim 100% tax deduction when I file my taxes next year? Also, does the percentage of tax deduction that I can claim for my new company – depend on my income bracket from my regular (other) job?
Wiley Colarossi
Hi,
I started a new LLC company recently. I am incurring some expenses for setting up my company. But, there may not be income generated for atleast one year. Since I have only expenses and no income, can I claim 100% tax deduction when I file my taxes next year? Also, does the percentage of tax deduction that I can claim for my new company – depend on my income bracket from my regular (other) job?
Wiley Colarossi
