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January 16, 2025
Question

Business Spent More Than Income

  • January 16, 2025
  • 1 reply
  • 0 views

Will i receive money back on taxes if the business had to spend more than we made.

    1 reply

    January 16, 2025

    you provided virtually no details. However, a loss would reduce your taxable income. if you have a net operating loss and paid in no taxes, there's nothing to refund unless you qualify for some refundable tax redits.