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Am I required to deduct my business expenses? My income is so low that I would be better off just reporting sales without deducting expenses. Is this ok?
Because of such a low income, my Earned Income Credit and Child Credits are not given to me. If I exclude my business expenses, my business income is higher but my refund is also higher. Not sure if I can amend prior year returns and delete out the business expense lines to get a larger refund.
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‎January 21, 2020
11:58 AM