Total start-up costs
?Startup costs are expenses incurred during the creation of a new business, including development of a business plan, research expenses, borrowing costs, expenses for technology, advertising, promotion, employee expenses, and more.
Estimated first year profits
?You don’t have to be precise, but the more precise you are here, the more accurate your estimate will be.
?You selected your business’s entity type (AKA business structure) when you first started your business. If you’re unsure, you can check your most recent tax return to see how you’re structured.
?If you use part of your home for business, you may be able to deduct expenses. This is available for homeowners and renters, and applies to all types of homes.
Estimated annual mileage
?If you use a car for both business and personal purposes, you can deduct the cost of its business use. We use the standard mileage rate determined by the IRS for this calculation.