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Business & farm
Thank you for the info. Only trouble now is I have a tax accountant, and several other pros in my line of work, telling me I really should report expenses and take the loss. That it is best to show/document the continuous operation of my business for going into the future despite no income for 2021. I've also heard the point that my business DID result in 2021 income, because that's the only reason I got unemployment comp income during 2021.
It seems to be a thin line between having very low (near zero) income in proportion to expenses in one year, and in having 0 (zero) income with all the similar expenses in the next year.
‎February 22, 2022
3:44 PM