My business has some income but expense is much more, so that I claim loss on Schedule C every year.
In this case, will I have any trouble with my tax? Will IRS ask me to close my business?
I heard IRS only allows the business to have only 2 out of 5 years have loss, otherwise business touches the red line. Is that true?
I am kinda worried about that. I claimed all the things on the Schedule C honestly and have all receipts/records to support my business expense.
