I have a TP who makes a good # in his sch c business in legal(not lawyer style work).
However TP decided in 2011 to also go into the Herbal Medicine business. Opened doors in 2011 made some $ and had some start up expenses which he amortized. Had a loss in 2011. In 2012 TP didn't sell as much but still had all the connected exp ie rents, phones, advert, business license, inventory tax etc. TP also bought Extractors and distillers for this business.
My real question is what do I do with education and training expenses incurred in 2012 in this field of Herbal Medicines?
BTW TP has not filed 2012. In looking ahead it appears TP shut this operation down in 2013 due to lack of sales.
Thanks for any imput.
However TP decided in 2011 to also go into the Herbal Medicine business. Opened doors in 2011 made some $ and had some start up expenses which he amortized. Had a loss in 2011. In 2012 TP didn't sell as much but still had all the connected exp ie rents, phones, advert, business license, inventory tax etc. TP also bought Extractors and distillers for this business.
My real question is what do I do with education and training expenses incurred in 2012 in this field of Herbal Medicines?
BTW TP has not filed 2012. In looking ahead it appears TP shut this operation down in 2013 due to lack of sales.
Thanks for any imput.
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