Taxes for a new LLC at the end of the year... Looking for advice

[Nathan Hood]

Hello everyone!

So I just recently formed a LLC. We are getting close to the end of the year and I was starting to think about the taxes. I have yet to Flip or BRRR which I intend to this year. So end of the road the LLC at this point I will be clamming nothing but a goose egg. BUT I was thinking as far as taxes go, I am putting in a lot of time and money in getting it launched ie: new computer, new phone, Mailing campaigns, Driving for dollars and all that good stuff . Am I eligible to Claim any of this for my LLC. Might be a dumb question but figured I would blurt it out here before hiring a CPA for $0s made....

[Patrick Liska]

0 $ made, 0$ can be deducted against it, but hold on to the receipts, if you start next year you would still be able to deduct the startup costs against the money made. but i would check a CPA to make sure.