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Question

I want to have a startup, and I'm still in the idea phase. I 'm not planning to incorporate until I 'm done with the MVP or pretty close . My questions are -

- How can I report the money paid for this, like domain names, lawyer fees, graphic designers, software developers ..etc that was made before incorporation, as expenses for tax purpose?
- After incorporation, can I keep moving money FROM my personal account to the company business account, to cover more expenses and provide liquidity?
- If the initial deposit was not enough, and the revenues were delayed or not enough?

Answer

Lewis Powell answered

In regards to your first question make sure you have photocopies of all cleared checks and credit statements. That should be sufficient when reporting statements to the IRS. For question 2, yes you can. Make sure you keep track of your personal deposits in your business.