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Hello Everyone
I am in the planning stage of starting my business. I am planning on opening a bread bakery / cafe. I will be attending bread making courses in the next few months. I want to know if I will be able to write off the expense of the classes? If so how soon before or after will I need my EIN and form my LLC?
Any information is greatly appreciated.
Jon
Here is an article from this site. I would personally consider initial employee training to be a startup expense (especially the training you mentioned). If you know for sure you are going to do it I would go ahead and form the LLC, etc. If you are not sure, I'd wait. One way or another you'll be able to get some tax benefit out of the startup expenses whether you paid them out of your pocket or out of the business.
http://www.startupnation.com/articles/1178/1/AT_How-to-Write-Off-Your-Startup-Costs.asp
A friend of mine just received his Heating and Air Conditioning (HVAC) training under a federal training program. The Feds paid 80% of the cost and the business owner paid the other 20%.
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