After reviewing the tax code on the IRS website [chapter 7 & 8] I just want to be sure that all of the start-up costs that have been at my personal expense for the development of my c-corporation that I have planned can be ammoritized over 60 months only AFTER the business has officially started 'doing business'. My current expenses include design of company logo, trademark and R&D however I am the only investor right now as it is very early in the stage.
All of these expenses will ONLY be able to be deducted (i.e. ammortized) on teh corporation's federal income taxes right? Is there anything that I need to be aware of while I am keeping track of the expenses. Anything that I need to indicate on my own personal income tax? To the receipts need to indicate that the expenses are for the benefit of the corporation? (especially since I do not have a corporate business account custodianed at a bank yet)
Please advise...any and all feedback is appreciated. :) Thank you!!