Bette Hochberger Inc Logo

Tag: business losses

In a business when expenses exceed the income for a period of time.

4 Reasons Why You Should File Your Taxes When You Didn’t Make Any Money

  A question I get a lot this time of year is, “If I didn’t make any money do I even need to report it on my taxes??” And my answer is YES! Here’s why: 1. If you put money into starting a new business you can deduct the startup expenses. There can be a lot...  Read More

Is Your Business Just a Hobby?

What’s the difference between a hobby and a business? ¬†According to the IRS, it is whether or not you are trying to make a profit. ¬†If you are not trying to make a profit and just want to write off the cost of your hobby, then you are subject to the “hobby loss rules.̶...  Read More