Usually The IRS Gives Small Business Startups Three Years To Become Profitable

Life is not a beach for an entrepreneurial small business startup, especially in these times.

Typically, any entreprenuerial small business startup has three years to invest money (time, energy, etc) into creating a profitable business plan. And in this usual and customary time frame, startup expenses are tax deductable. After that, the IRS will ask a simple, and appropriate question: Is this a hobby or a business?

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By jeff noel

Retired Disney Institute Keynote Speaker and Prolific Blogger. Five daily, differently-themed personal blogs (about life's 5 big choices) on five interconnected sites.