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If I am starting a business from my home office deductions the first year
If i start a business from my home office and during the first year do not bring in revenue as I am building a internet website can I deduct part of the cost of my business expenses like part of my rent and expenses directly accountable to my business. I will be using my own saving to launch this business.
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Hi there, yes absolutely!
Take a look at this answer on a similar question related to home office expenses: https://askexper.com/question/how-can-i-account-for-electricity-in-personal-home-that-is-used-for-business/
Also check out this 101 guide for freelancers, it also talks about other deductions you should consider. https://askexper.com/ultimate-guide-accounting-bookkeeping-tax-freelancers/