Its Deductible Software
May 6th, 2008
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Question: Is cost of software development for proof-of-concept deductible as company (LLC) pre-setup expenses?
I set up the company half way through the software development cycle and paid the vendor company even before my LLC was registered. Can i still deduct those expenses for tax purposes?
Thanks in advance.
Answer: Start up costs have limitations regarding their being
deductible. A general guideline is that they are to be amortized over 15 years but you frequently can take as much as $5,000 additional deduction in the first year.
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Canon EOS Digital Rebel T2I / 550D With 28-80mm and 75-300mm 36 Piece Pro kit +++ $1,149.99 Package includes : # NEW CANON EOS T2I / 550D with usb cable , video cable , software , battery , Charger # Tamron 28-80mm f 3.5~5.6 Auto Focus Lens # Tamron AF75-300mm F/4-5.6 LD Auto Focus Lens # 5 Years Extended warranty Plan # 3 Piece Lens Cleaning Kit # Card case Holds 3 cards # High speed card reader # Table top Tripod , ultra compact with flexible wire leg # Flash # LCD protector # 16GB hi… |
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