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Buying A New Business

Posted on October 28, 2010.
Buying A New BusinessCan I deduct the money i invested in the purchase of a new company in my income taxa

frachise bought a cleaning, and paid 25,000, is tax deductible

Over time.

Franchise fees are generally amortized over 15 years, irrespective of the time or period of your franchise. If your franchise agreement is 5 years, you still deduct 1/15th per year. If your business is finished 5th year you can deduct the balance.

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