I worked as an employee from Jan-Sept with a company in 2006. I left this company in September to open my own business. I spent thousands of dollars towards opening my store, which I was supposed to open on December 5, 2006. Due to some major issues with my General Contractor, I was unable to open my store in 2006. I still have not opened it. I have had my store location leased since October, 2006.
My question is this...
Since I did not receive a single dollar in sales from my store in 2006, do I claim all of my expenses towards it anyway (we're talking about in excess of $75,000), or do I just file my income from the job I had from Jan-Sep, and claim my business expenses on my 2007 taxes since I will be open that year?
Please advise if you know how I should handle this. Thanks.
2007-02-01
02:53:37
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3 answers
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asked by
Chase Movie M
1
in
United States