Hi all. I was talking to my tax person yesterday who explained that I could capitalize many of my expenses as startup costs (depreciated over time) to make my books look better for bank loans, etc.
Any opinions on what is generally best practice? I was planning to take the write offs immediately. I’m under the impression that if I sell I won’t need to supply the buyer my taxes anyhow. I’ve got a 30 space park. I’m just looking for some general advice that might apply to a guy starting out buying small parks.