I just thought of something else too. On Jan 1, 2017, either go to the store or go online and purchase QuickBooks 2017 to install on your computer. (Not the online quickbooks.) I started using that for my business in 2006, and it's made my tax time life so much easier. I use QuickBooks to enter and track all of my income, expenses, and inventory. What I like about it, is that you can set it up to assign specific transaction types to specific tax lines on the SCH C. Yes, that initial setup is a bear. But once done, I simply import my data from QuickBooks directly into TurboTax. Of course, since Congress can't leave tax laws alone from one year to the next, I do find myself having to confirm and "correct" a few things. But it's a heck of a lot easier than doing the SCH C from scratch each year. On top of that, by purchasing it on Jan 1 2017, you have your first tax deductible business expense for 2017 too!
As for the 2016 taxes, I know your deductible business expenses will exceed your taxable business income. that's okay. You still "claim" them on your 2016 return. So while you will "claim" them, once your deductions gets your taxable business income to zero, any more deductions won't be "allowed". But you claim them anyway.
This is because those claimed 2016 deductions that are not "allowed", will be carried over to your 2017 taxes and deducted next year, provided you have the business income to deduct them from of course. But if you don't "claim" them in 2016, then you can't carry them over and claim/deduct them in 2017.
