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1. Know the money limits on what you can deduct on your business's taxes. The IRS allows you to deduct up to $5,000 or your actual startup costs (whichever is less), and $5,000 in organizational costs in the first year, whichever amount is less.owever, if your costs exceed $50,000, your deduction will be reduced by the amount you go over. If your start-up expenses exceed $55,000, you wonât be able to claim the $5,000 deduction for the first year. 1  For example, if start-up or organizational costs are $51,000, your deduction is reduced to $4,000.
Any startup costs that you can't deduct need to be amortized, which is similar to what you do with depreciation. The IRS assigns a 15-year life to business startup costs, so you'll be able to write off your initial franchise training fee in 15 equal installments.f you engage in any travel as a part of your franchise training, most of those costs are also tax deductible. You can write off your transportation and lodging expenses provided they are not extravagant. The IRS also lets you write off half of the cost of your meals while you are at training.