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Updated about 6 years ago,

User Stats

19
Posts
4
Votes
Chris Roush
  • Kansas City, MO
4
Votes |
19
Posts

Tax write-offs for creating an LLC

Chris Roush
  • Kansas City, MO
Posted

I am working with an attorney to setup my first LLC. Since this is my first business, I'm trying to figure out how to handle the expenses when the 2019 tax season begins. Since I had to start the LLC with my own personal money, and the attorney fees wouldn't show up on that LLC's balance sheet, is it possible for me to write it off as a business expense after the LLC bank accounts are active?

For other expenses that I am currently paying for from my own personal account such as online subscription fees for various business-related needs such as rentometer and Bigger Pockets, do I need to move those subscription charges to a business credit card or checking account before I can write them off?

Any advice for managing my business expenses properly from the start would be greatly appreciated. Thanks!

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