A new business can usually deduct up to $5,000 of startup costs and a separate $5,000 of organizational costs in its first year under IRC Sections 195 and 248, then amortize the remainder evenly over 15 years (180 months).

If you haven't filed your 2022 tax return and requested an extension, that extension expires on October 16th. Failure to file before this deadline can subject you to late-filing penalties.