Do you have an answer for this tax problem?

[Celia2]

Do you have any suggestions?

Hi,
Last year I was laid off so I started a very small legitimate business. Of course since it was the first year the loss was $7000. So with this loss the income was about $1000 on line 40. Since there are three of us, the exemptions are $9300. Therefore the tax is zero.
So you see even without the business loss, the tax would still be zero and hence I am losing the use of the business loss to lower my tax.

I have started to have income this year. Is there a way to deffer last years' losses to this year. I remember in a previous we depreciated the office computer over five years.
The expenses were:
Laptop $1955.24
company paid to prepare 3D animations for the business $2,886
External hard drive and other hardware $622.65
Software $200
Computer Tech assistance $360
Office equipment:
Projector $100, Digital Camera $368.04
Legal $500
Internet service $360
Phone bils $300
and other stuff.
Thanks
Celia
[email protected]

 

[Snipes5]

Hire a tax professional to do your return for you.

Snipes

 

[Celia2]

so you're saying that you are just an unprofessional waste of time snipes?

 

[Snipes5]

No...

I'm saying that I'm not going to waste my $65 per hour time doing your Schedule C over the internet for nothing.

And if that's how you're going to be, find someone else to answer your question.

 

[Celia2]

so since I included my e-mail address, how come you did not send me an e-mail saying that you are snipes and that you would charge me $65/hr, which I have no problem with by the way. So go ahead and send me an e-mail and include a phone number, and we would talk further