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I am a Wellness Advocate for doTerra and spent more on starting up my business in 2015 than I made. Can I deduct more than I made in a year?

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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bwa
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I am a Wellness Advocate for doTerra and spent more on starting up my business in 2015 than I made. Can I deduct more than I made in a year?

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.

I am a Wellness Advocate for doTerra and spent more on starting up my business in 2015 than I made. Can I deduct more than I made in a year?

Yes. Make sure you have good supporting records and keep them for at least 3 years. 

ron. 

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