If you have every wondered what the difference would be between Startup costs and purchasing an existing business... here is a great tool from the Wall Street Journal online (WSJ.com).
Startup expenses are one-time expenses that occur before you can open your doors for business and start selling your product or service. Expenses are money you pay for services, like legal expenses, or design services, or rent - intangible things that you don't get to keep. Expenses reduce your taxable income, but cannot be depreciated over time. After startup, expenses are accounted for in our profit & loss table.
To learn more... and calculate your possible startup costs... click here.
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