Hello,
I'm planing on starting an LLC, but since it is already near the end of the year going into September, I wanted to know if there is anything like carrying over business losses from the first year into the next? Commonly business expenses are greater at the start. Essentially I would like to know if the business does better the second year, but doesn't cover the losses from the first, will I still have a tax bill at the end of the business's second year? Knowing this would greatly ease my mind!
Thank you!
