My wife started a photography business last year (January, 2022). We did all the real/official things: bought insurance, created a single manager LLC for her, built a website, seperate business bank account with Quickbooks and Venmo, etc.
She did fine, and ignoring startup costs, would show a small profit. The problem is that for multiple legitimate reasons, she does not wish to continue the business. There were some monthly expenses for things like Pixieset and Adobe, annual LLC filings, Dropbox, etc. But, the large expenses were a MacBook Pro and a Canon professional DSLR with two very nice lenses. So I think the approximate total expenses at the outset were about $9,500 (two of the items are under the $2500 limit for section 179 - see below). Obviously, if she were continuing the business we wouldn't be worried and could deduct/depreciate things, etc.
She's asking me about a Section 179 deduction. If she does the full 179 deduction she would show a loss. At this point, what can we safely deduct and what is the best way to proceed? (Illinois residents)
