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Mike92ct
Returning Member

business on hold. Still have expenses

In 20' 21' 22' and 23' I did landscaping about half of my time. In 2024 I didn't operate/won't be. I plan to return 2025 but at a smaller pace.

 

I still have equipment deprecating, still have tax bills, insurance, and a few other things including storage ect but little to no income. I have w2 income (and wife) as well. Can I anticipate claiming my expenses the same - with no income because the business was on hold one year? I don't claim mileage, I claim expenses on a work truck - still doing to maintain for next year. Ect. 

 

Can I claim the bare minimum to maintain the business with no income?

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1 Reply
M-MTax
Level 11

business on hold. Still have expenses

You're either in business or you're not. You can decide whether you're actively seeking out business and operating or have ceased operations. If it's a temporary hold, that's one thing but then all expenses with zero income on a Sch C does not look good on a tax return. 

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