Hot Business Tips » Music http://hotbusinessonline.info Businesses in a Box? I Don't Think So! Sun, 21 Mar 2010 04:23:05 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 Home-based Business. What if I have next to nothing coming in for how much I am deducting in taxes? http://hotbusinessonline.info/home-based-business-what-if-i-have-next-to-nothing-coming-in-for-how-much-i-am-deducting-in-taxes/130/ http://hotbusinessonline.info/home-based-business-what-if-i-have-next-to-nothing-coming-in-for-how-much-i-am-deducting-in-taxes/130/#comments Mon, 07 Jul 2008 01:18:58 +0000 admin http://hotbusinessonline.info/home-based-business-what-if-i-have-next-to-nothing-coming-in-for-how-much-i-am-deducting-in-taxes/130/
rothchristian asked:


I am looking into setting up a home based Business as a part time thing. I have a day job and I would like to do this music endeavor on the side. I want this to be legitimate but I know I will be making very little money and writing off a lot in tax deductions. Does anyone have experience in with this type of scenario? Is there a reasonable expectation that IRS has around how much revenue needs to come in for how much you are writing off? I don’t want the Business to appear fraudulent although I have more to gain from a tax deduction basis.

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