I wanted to ask something a little more specific about your answer: "In your first few months or year of operation you may not bring in any income."
I have been going at my side business as a videographer and acquiring skills and equipment for the last 2 years (2018-2019) and I thought most businesses reported losses as much as 5 years out in some cases. If I am still not making a profit but it is definitely not a hobby should I be concerned about the write-offs if I have all of my receipts? And, when is the turning point where a person/sole proprietor needs to let go and convert it to a hobby in the mind of the IRS?
