Nobody ever said it didn't cost them anything to start a business.
Many startups are continually challenged by having to spend money—on equipment, on salaries, on rent, and so on—before they can make money. And that challenge is greatest, of course, when they’re first starting. After all, many small businesses have to self-finance thousands of dollars of expenses before they can even open their doors and take in the first dollar of revenue.
Fortunately, it's possible for owners to write off many of those startup expenses in full, even if the business has little revenue in its first year.
Here is what a small business or self-employed individual needs to know about getting a tax benefit for all of those initial expenses.
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