Business loss against another income
I have a very small online business generating me maximum $1k per month. I am not thinking of incorporating it or going for sole proprietorship.
Is it possible to show my rent, car expenses, etc. as my expenses, and then apply the loss against my other full time salaried income? All this without incorporating the business or going for sole proprietorship?
Is it possible to show my rent, car expenses, etc. as my expenses, and then apply the loss against my other full time salaried income? All this without incorporating the business or going for sole proprietorship?