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May 22, 2024
Question

loss question

  • May 22, 2024
  • 1 reply
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How long can a company operate without producing a profit and continuing to write off business expenses?

1 reply

May 22, 2024

The IRS rule typically allows losses for three out of five tax years. If there is not a profit it may determine that your business is a hobby. Please check out : When the IRS Classifies Your Business as a Hobby