It is not a business expense. You have a business expense when your business spends money. Your business has not spent any money for your time, so there is no business expense.
How is your business structured? Is the business a sole proprietorship, a single-member LLC, a multi-member LLC, a partnership, a qualified joint venture, an S corporation, or a C corporation? The reason I'm asking is to establish whether, for income tax purposes, the business is a separate entity. Does the business file its own Form 1065, 1120, or 1120S tax return, separate from your personal Form 1040 tax return, or do you report the business on a Schedule C included in your personal tax return?
