Could I write off my startup expenses this year even tho I have not had any revenues?
This question is in regard to U.S. Income Tax Laws.
If you understand these laws, please kindly respond:
This year I incurred startup expenses for some companies
I am in the process of establishing. My questions are:
1) Could I write off my startup expenses this year
even though I have not had any revenues from my startup
companies? (I do have interest income this year from my bank
account)
2) If not, could I write off these expenses when
I realize revenues from my startup companies?
Thank you kindly in advance for your answers!