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Could I Write Off My Startup Expenses This Year Even Though I Have Not Had Any Revenues From My Startup Companies?

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gentleman2222 | 03:36 Wed 01st Apr 2020 | Business & Finance
2 Answers
If you understand U.S. Income Tax Laws, please kindly respond:

This year I incurred startup expenses for some companies
I am in the process of establishing. My questions are:

1) Could I write off my startup expenses this year
even though I have not had any revenues from my startup
companies? (I do have interest income this year from my bank
account) Could I wait until next year?

2) If not, could I write off these expenses when
I realize revenues from my startup companies?

Thank you kindly in advance for your answers!
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This is a UK site, so you are unlikely to find anyone to help you.
As Waterboatman states, this site is based in the UK and, while we generally welcome questions from all over the world, it's unlikely that there are any experts in US tax laws here.

Regrettably, most of the US sites that seek to emulate this one (such as Yahoo Answers and Answerbag) are poorly moderated and full of spammers and trolls. However it might be worth asking your question on Quora, where there's a reasonable chance of finding a sensible answer to it:
https://www.quora.com/

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