Written by Marc R Barnes EA
September 25, 2009
Fees that you pay to lawyers, tax professionals, or consultants generally can be deducted in the year incurred.

However, if the work clearly relates to future years, they must be deducted over the life of the benefit you get from the lawyer or other professional.

Business books, including those that help you do without legal and tax professionals, are fully deductible as a cost of doing business.

Business start-up and organization costs

For business start-up and organization costs paid or incurred after September 8, 2008, a corporation can deduct up to $5000.00 of such costs for the year it begins business. The $5000.00 deduction is reduced by the amount the total cost exceeds $50,000.00. If the total costs are $55,000.00 or more, the deduction is reduced to zero. Any costs not deducted must be amortized over a 180 month period, beginning with the month the corporation begins business.