Expenses that you incur for your business before you are actually open for business are called start-up expenses. Start-up expenses are those that would be deductible as business expenses if your business were up and running. As long as your business eventually opens, you may deduct at least some of your start-up expenses. Even if the business never gets off the ground, you might be able to recover some of your costs. This post explains the tax consequences of starting [...]