True...SM - Anon Posted: Dec 23rd, 2017 - 11:55 am In Reply to: This is not true. sm - no name
I file a schedule C and have a CPA who specializes in small business accounting. There is no limit you have to reach in order to file the schedule C, and there are many things that are considered business expenses. In fact, during 1 or 2 years my expenses were greater than my income, so I ran a loss and had no taxes to pay because there was no actual income that year. Of course, I also had an employee position, so paid taxes on that income and also have rental income and filed for that too minus my expenses and paid taxes on that too. I have a pretty fat tax return but it's done by a professional who maximizes my return, so it's worth it. Getting yourself a knowledgeable tax professional is always best.
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