Studying entrepreneur tax advice can help you save money to invest back into your business.
Entrepreneur Tax Advice to Help You Leverage Your Losses
As an entrepreneur, it’s important that you understand that if your business loses money then you can use losses to offset income from wages, interest, dividends, and so forth. You can carry net operating losses back two years (for a refund of taxes you’ve already paid) or forward 20 years, to offset future income.
However, if these losses are generated by a “hobby”, your deduction is limited to your income from the hobby. You can’t use losses to […]