What kind of LLC is it? Are you a Single Member LLC? Is it a S corp. or a multi member LLC? If you are filing it on schedule C in your personal tax return you can show a Net Loss and it is deducted from your other income. Some expenses, such as home office or section 179 depreciation can only be used to reduce your schedule C taxable income to zero, and not to create a loss. Excess deductions for these carry over to the next year.
