startup costs for private practice deductible?

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finalpsychyear

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Im in the process of getting a new accountant. Until then, anyone familiar with startup costs that the irs allows for new businesses? From what I have read since I started my priv practice this year I am allowed so called "startup costs" up to $5,000 dollars and it can include licensing fees.

So can anyone confirm if all that Dea, state license, FCVS, hospital credentialing, initial board exam cost plus board prep which I have all the documentation for would count? I really hope so : )

And yes I'll confirm any kind responses once I find a more responsive accountant but just was wondering if anyone had any idea on this by chance.

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I'm not an accountant, but all of the above should be tax-deductible as business expenses, since neither of these things are required for "initial licensing" (for your initial degree)
 
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