Can I hide some expenses or have two separate expense lists? I have some from the start-up phase that I want to keep a record of for tax time, but not be seen elsewhere.

I have a list of expenses of the business start-up and would like to keep a record of them for tax time. But I don't want it to be calculated in the profit and loss, reports or the dashboard. Ideally, I would like to keep a running list of expenses separate from the operating costs. Without just putting them on an excel sheet.

Answer

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Add them to an asset account. Other Current Asset type or long term if you plan on amortizing.

The IRS has become much more flexible with start up costs and most small businesses qualify to current write off start up costs. There are exceptions to every rule.

https://www.google.com/url?sa=t&source=web&rct=j&url=https://quickbooks.intuit.com/r/taxes/3-tax-ded...

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