Trip

Want to start a travel based biz. Can I write off expenses from trip earlier this year before I opened biz?

Went on a round the world trip from April to August. Will not start business until about mid december, can I write off trip expenses on biz taxes for year even if the trip took place before the biz was formed?



Any assistance would be appreciated.

Public Comments

1. Assuming you can demonstrate that the trip was in fact relevant, necessary and ordinary to your business, these would be start up costs and generally amortized (a little bit each month).
2. All expenses for starting a business prior to start are capital expenses that must be amortized over 180 months. The period start from the day you actually start the business.