(Posted this a few hours ago, but didn't get a reply, so trying again.)
I've been self-employed for thirty-plus years and have always operated at a profit until 2021, due to setbacks from the pandemic. This year I will have more business expenses than income to report. Is this something I should be concerned about? I would still like to deduct the expenses, and not have my business downgraded to a hobby, as it is my sole source of income (via different 1099 jobs). Thanks!
