Can I claim expenses on my taxes on a home business that is not a licensed business?
Monday, October 6th, 2008 at
9:02 am
Linda asked:
I started a home based photography business this year but I have not filed any paperwork, such as DBA, LLC or sole proprietor. Can I still claim income and expenses on my taxes?
Related posts:
- Can I separate home business taxes from my regualar job taxes? andietom asked: I have started a party type home...
- Is Turbo Tax Home and Business worth the extra money for me? EricO asked: I have my own business (sole proprietor)....
- Sound Financial Advice for Your Home Business Curt Miller asked: The best home businesses will fail...
- Can I deduct phone bills when I have home business? whattodo898 asked: I am planning to home phone line...
- Home Based Business: Home Business or Traditional Business Blossom Vinson asked: Home business is one of the...
Filed under: Other - Internet
Like this post? Subscribe to my RSS feed and get loads more!
Yes the IRS requires you to report all income - even illegal income. They do not care if you are licensed. You will need to report it on a Schedule C as a sole-proprietor.