Tracking Expense for Real Estate Business Before Business Account

[Troy Pauls]

Hello All, 

I have been working on my real estate business for the last year. However I have not had a business account and have been using my personal funds and Amex for my expenses. So I need help understanding how to best track and document what I have done so far. If anyone could provide some gudiance I would really appreciate the help.  

[Steve Babiak]

Unless I am mistaken, startup costs are capitalized, so they get deducted over time. If you bought equipment, equipment expense is deducted by being depreciated. 

http://www.irs.gov/publications/p535/ch07.html#en_...

http://www.irs.gov/publications/p535/ch08.html

http://www.irs.gov/publications/p535/ch08.html#en_...