Are the expenses incurred for my new business tax deductible?

I'm sure that it won't be a 100% deduction but some of the expense will be considered as a deduction. And the answer to your second question is yes. Your deductions,exemptions, and loss and income will come from all the generated income from all sources. This is called the adjusted gross income, unless you file seperate returns for each business and your personal taxes. I hope this is helpful.