The next requirement of section 162(a) is that the taxpayer must be carrying on a trade or business. Start up expenses are not entirely deductible, but must be spread out over 15 years. Because business expenses are fully deductible under section 162, taxpayers try to argue that expenses were not start up expenses.
Introduction. Located in northwest Williamson County, Fairview is located 20 miles southwest of downtown Nashville. With a population of 7,993 people, the town sits within the Nashville Metropolitan Statistical Area containing 1.7 million people, the 36th most populated in the nation and largest MSA in Tennessee.
The city of Plainview began in the early twentieth century as a lumber town. Since the decline of the timber industry, the city has struggled with various problems, including industrial pollution, but it remains home to more than 600 citizens in the twenty-first century. Plainview is in the forested hills of Yell County near the Petit Jean River. Prior to the Civil War and Reconstruction, the area was sparsely populated. Most of the residents were subsistence farmers, although the farmers also sold wheat, corn, hogs, and cattle.