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Updated over 7 years ago on . Most recent reply presented by

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Allan Mugu
  • Houston, TX
4
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Tax deductible or not

Allan Mugu
  • Houston, TX
Posted
Last year spent about $2000 trying to get real estate business started. Money was spent on what I consider start up costs: direct marketing, INC incorporation, etc. Did not end up doing any deals wholesaling or rental properties that resulted in any income. Would these expenses be deductible? Not looking for legal tax advice just general thoughts based on experience. Thanks

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Bryan H.
  • Investor
  • Willow Spring, NC
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Bryan H.
  • Investor
  • Willow Spring, NC
Replied

I've been told by multiple CPAs around the subject of "is this deductible?"

That's the wrong question to ask. The right one to ask is "how can these expenses be deducted?" Under the right circumstances just about everything can be deducted.

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