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LLC Startup depreciation.
10/21/09 7:15 PM
Total Views: 69
Total Views: 69
I just formed an LLC, can I elect to depreciate my Start up expenses over 60 months instead of taking the $5000 deduction?
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Answer
10/22/09 11:44 AM
No. Start up costs are a fixed asset that are amortized over 180 months. You can elect to deduct $5000.00 if the start up costs do not exceed $50,000.
Marc Barnes
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