This is for tax year 2019. In 2019 right from the beginning of the year, I had a small food business plus I traded heavily last year. I had gains from trading and losses from food business. I am wondering what is the best possible way to maximize my deductions. Can I claim as I was trading actively and hence be able to deduct the expenses incurred from investing fully, while also claiming deductions from expenses in operating the food business? What do I have to have in place to do something like this? Does this arrangement have any disadvantages?
