tax on no profits?
I make $100 somehow with no investment
Then i use it to advertise but unluckily i dont make anything back from the investment.
That would mean $100 biz expenses and $0 net profit
Does that mean my taxable income is $0?
This is just a scenario...no brackets nothing...just imagine 100$ falls within taxable bracket and that i'm not free under minimum income for tax purposes.
Also
Is there a limit on the advertising costs I can use to reduce my taxable income under biz expenses?
I hope there is no limit because that would make no sense at all.
Also
Lets say i buy an ad here on warriorforum
I get a digital receipt thats it....is that all i need to present when i file my tax returns when i show then the deductions?
Thanks
Wibble, bark, my old man's a mushroom etc...
Wibble, bark, my old man's a mushroom etc...
-
Ron Rule
http://ronrule.com
Raising a child is akin to knowing you're getting fired in 18 years and having to train your replacement without actively sabotaging them.
Raising a child is akin to knowing you're getting fired in 18 years and having to train your replacement without actively sabotaging them.
The 2nd Amendment, 1789 - The Original Homeland Security.
Gun control means never having to say, "I missed you."