T
tim_nguyen9
Guest
What is the name of your state? Maryland
Hello,
I payed out $3,500 to try a home-business which involved an upfront fee to become an "affiliate" to sell available information products over the internet on websites created for me. The licensing package included the website and the permission to sell the information products. I also had to open a merchant account to accept credit cards on the website, which was structure to be a lease (for 36 months) to own agreement. Unfortunately, it is a lot harder than originally thought, and I no longer pursue the business, even though I still have to make the lease payments every month for the merchant account.
First questions is that can I claim the $3,500 to start the business and, if so, how?
Second, since I no longer pursue the business, but still am binded contractually to make my lease payments for the merchant account, can I claim the full lease amount over the 36 months as my business expense. Thank you.
Hello,
I payed out $3,500 to try a home-business which involved an upfront fee to become an "affiliate" to sell available information products over the internet on websites created for me. The licensing package included the website and the permission to sell the information products. I also had to open a merchant account to accept credit cards on the website, which was structure to be a lease (for 36 months) to own agreement. Unfortunately, it is a lot harder than originally thought, and I no longer pursue the business, even though I still have to make the lease payments every month for the merchant account.
First questions is that can I claim the $3,500 to start the business and, if so, how?
Second, since I no longer pursue the business, but still am binded contractually to make my lease payments for the merchant account, can I claim the full lease amount over the 36 months as my business expense. Thank you.