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ianleonard
Level 2

loss question

How long can a company operate without producing a profit and continuing to write off business expenses?

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3 weeks ago
last updated ‎May 22, 2024 10:36 AM
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Alicia64
Employee Tax Expert
Employee Tax Expert

loss question

The IRS rule typically allows losses for three out of five tax years. If there is not a profit it may determine that your business is a hobby. Please check out : When the IRS Classifies Your Business as a Hobby

 

 

3 weeks ago
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