TIP #1:   Talk to a good tax preparer before you follow any tax advice.

TIP #2:   Startup expenses for your business before you actually "start" the business are not always completely deductible. Sometimes they are not deductible at all. In cases where they are deductible, and depending on when you decide to take the deductions, they must be depreciated over a period of time; (or capitalized, which would mean no deduction until the business is dissolved). Once you officially "start" your business, meaning specifically that you have generated some revenue, you can then, in most cases begin taking deductions for your expenditures.

So... you might want to: (1) Resist buying all that business stuff you don't need yet, (2) Set up your Nevada corporation today, and; (3) Pick up the phone and talk with a knowledgeable "corporate" tax person about your plans. (After you form with CHQ we will refer you to the best tax man in the business.) The important thing right now might be to get your corporation started with as little expense as possible, sell some product or service quickly, then begin expensing.

TIP #3:   You may not take your spouse on a business trip and write off his or her expenses as a business deduction. You can however, take your corporate Secretary or Vice President.

TIP #4:   The annual, or occasional office party can be 100% deductible as long as all employees are included.