390: OPEN FORUM SHOW - Answering Difficult Tax, Legal & Business Questions
Main Street Business
00:00
Don't Hold It - What's Deductable?
Dan Moon: Once you're out of start up mode, then any expense tht normally be dining, travel supplies, a telephone, operational things, those are a hundred % deductable. But your franchise fee that you paid the franchise oer is amatrized over 15 years. And then any equipment you buy is going to be typically a three, five, seven or 15 years schedule. Now this year, too, you have what's called bonus depreciate, which means depreciate all in one shot.
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