Can I Claim Expenses On My Taxes On A Home Business That Is Not A Licensed Business?
Posted by admin on December 16th, 2009 at 05:59am
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?
Under Home Business
1 Comment for Can I Claim Expenses On My Taxes On A Home Business That Is Not A Licensed Business?
1. Linda | December 16th, 2009 at 6:50 am
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.
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