Start Up-New Business : Tax tips

Start-up losses

If you are setting up a new business, start-up losses incurred by a corporation will not be personally deductible. If you anticipate start-up losses, and liability is not a concern, consider starting your business as a sole proprietorship or partnership and only incorporate once you become profitable.

Disclaimer:
"This article provides information of a general nature only. It may no longer be current. It does not provide legal advice nor should it be relied upon. If you have specific legal questions you should consult a lawyer."