as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
can i account for start-up costs that occur before incorporation?
user
yes you can. you should talk to your tax advisor re the specific expenditures that can be accounted as startup-costs (legal fees are a good candidate, for example). if they add up to significant amounts (>$5k), you'll have to capitalize them over a certain period of time, and deduct from your business' income. this is not a tax advice.:-)
assistant