It is costly to start a business-- especially in agriculture. Fortunately, producers can deduct expenses before the business begins and with the growing use of online platforms, the tax court has applied the start-up expense rules to web-based businesses.
Roger McEowen with the Washburn School of Law spoke with RFD-TV’s own Janet Adkison on what typically qualifies, web-based businesses, and what advice he has for producers.
Related:
The best way to manage large expenses on your cattle operation
iTrees: An online business with a local connection
Growing you business from the stump up
Ag CPA on possible prepaying expense problems
