Can i deduct business loss from LLC from personal W2 income?
Mar 29
10 Comments
Do any of you have personal experience with this setup?
I would like to convert a long time hobby into a business , but was wondering if I take losses for the first few years, can i write off the loss against my w2 income?
Capital expenditure will be a big expense for me to setup the business, can all of that be claimed as loss or are there specific limitations?
I will reach out to a tax pro eventually , but wanted to get a feel for the situation.
TC: 500k
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