Well of course. How else would I establish a business expense? But is this something where I can go in and set up the whatever corporation and then write it off for said corporation in the same day, or do I have to let it mature or something?
So long as you incorporate by Dec 31st, you're fine.
But... just to be clear we're both talking apples.
Jan 1st. You buy it.
You drive it around for 6 months.
June 1st, the service goes live.
Here is where you'd, likely, be wisest to incorporate. Besides, they will want your tax documents... just a guess. EINs are easy to get.
However, say it was a lawnmower and nobody needed to see paperwork.
Dec 31st is your deadline to incorporate for the tax year.
Now, to get around all this, for a car, you can get an EIN without incorporating, then incorporate at the end of the year.
I'm not assigning any reasons, just describing what is possible.
Interesting. I think at present the plan is to incorporate in 2022. I'm really not sure how my situation is going to play out and there's a lot of variables here. So, from what you're saying it appears what I'm planning doesn't seem to have big issues. I think this answers the question well enough. Thanks.
👍👍
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