JulieS
Expert Alumni

Deductions & credits

Yes, you can deduct your business expenses and health insurance from the time your business became active.

 

Active business, refers to whether or not you, or your employees, partners, etc. are engaged in an effort to produce income. Failure to produce income doesn't change that. 

 

Your self-employed health insurance deduction is limited to the amount of your net income from the business, but that limitation applies for the year as a whole, not month to month. 

 

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