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LLC Deductions
I started an LLC in 2023 for my therapist business. I am the only owner. I had no business income in 2023, but I had a significant amount of start up expenses. I was told that I could deduct these on my personal tax return, which I understand, but I was also told (by a supposedly knowledgeable entity) that I could actually deduct and get a refund for more than the amount of tax that I owe on my personal return. This dosen't sound right to me, but just wanted to be 100% sure.
Thanking you in advance.
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‎December 27, 2023
10:50 AM