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Home: Video University Forums: Marketing & Business:
taxes

X-Tom_Lindell
Imported Account

Jan 4, 2002, 7:06 PM

Post #1 of 2 (408 views)
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taxes	Can't Post

I looking into reporting my business a loss as far as taxes is concerned. Does anybody have any advice on this matter?
Tom

X-Hal
Imported Account

Jan 4, 2002, 10:50 PM

Post #2 of 2 (407 views)
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Re: taxes	Can't Post

Tom,
You really should have an accountant help you with this. I'm not
one, but as I recall a business has to make a profit something
like 3 out of 5 years. If it doesn't, you have a hobby which
is not deductible. And if it is a hobby, this could jeopardize
other tax returns. So I hope you see this is nothing to take lightly.
A good accountant will always earn at least their fee in ta savings.
I have an article in the Business section of the Free Library
about taxes and a video business. It may give you some perspective.
Good luck,
Hal