meick77
Returning Member

How does a side business affect my tax deductions?

Hi, 

I am thinking of starting a side business as a sole-proprietor. I have a full-time day job with a regular salary. I want to know if my business expenses will affect my deductions and tax return? IE if I make 50k at my day job, but I don't make a profit from my side business the first year, will deductions from my side business come off the taxable income I make at my day job?