In 2015 I became a Wellness Advocate for doTerra. In order to start up my business I spent more last year than I actually made. I use some of the essential oils for my personal use but also sample the products to others. Can I actually write off more money than I made as a start up business?
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If you incurred a business loss it would be deductible. However, product that you purchased and used yourself would not be a part of that loss.
Yes. Make sure you have good supporting records and keep them for at least 3 years.
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