Small business deductions

Is there a minumin i have to spend on a small business in order to claim it as a deduction? i have about $4500 in it so far is that enough to claim the the money i have put onto it

Share | Abuse

Answers

Answer 1 / 1

Submitted 345 days ago...

airforcemom

Expert (822)

There is no minimum, you just claim income & loss, actually, gov't does not expect to see a profit for at least 3-4 yrs.

Share | Link | Abuse

Answer This Question Now

If your Answer is chosen as the “accepted” answer, you will earn ongoing royalties on this thread.
Simply type your Answer in the box below and post your answer.

Learn more about how WebAnswers.com works

Related Questions

I am a new small home business owner recieving ssi perm. disabled.

I started an independent home base business for www.xango.com on 9-04-07. i have invested...

View Question

Small business help

I recently opned a business in a small town. it is not going so well yet. my business involves...

View Question

Tax rate on sale small business corporation

I am trying to calculate the tax i would owe by selling a small business (a c corporation)....

View Question

Do i need to be deducting for fica?

Small business-i take payroll deductions of: federal, state, medicare ins. and social security,...

View Question

Obtaining a small business license

Would like to know what is needed to start a small business in seaside oregon

View Question

How to find a suitable small business for myself?

I am interested to have a small business that i can handell it. i think a coin luandry...

View Question

Tax liabilities for small business started with taxable dollars

A small business (consulting practice) is started the first year shows a loss the second,...

View Question

What are my responsibility for spousal debts?

My spouse started a small business with motorcycles. i am not involved with the business,...

View Question

Close a business?

How do i show i closed a small in house business?

View Question

Payroll deductions for immediate family members.

As an owner of a small business that employs immediate family members do i make the normal...

View Question