Business expenses are the cost of carrying on a trade or business. These expenses are usually deductible if the business operates to make a profit.  Even without income, you may be able to deduct your expenses, as long as you meet certain IRS guidelines. Your business loss can offset other income on your tax return and lower your overall tax bill. The test for being able to deduct your expenses is whether you are operating a true business and not practicing a hobby. Let's Talk About!

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