Hello,
I was referred to read your links regarding small business startup cost.
I read the links but all examples are within the same year. My case is spread out to 2 years, bought stuff in 2017 and will open in the future in 2018.
If I bought stuff as srart up cost in 2017, less than 5k, my business is not opened yet, not registered, just in planning stage. Will be open close to end of 2018.
Now, I file the tax under my private name, with sin.
It's going to be small business no employees, just me.
Should I claim the start up costs that bought in 2017, now in my tax under my private name (have no registered business name yet) , or wait till 2018 tax return file and then submit them when my business will be already opened.
Thank you so much.
Hi, if you currently do not have a registered business and are not actively generating business income then these expenses would not be eligible in the current tax year. Keep your documentation and receipts and look to include them next year.
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