Question by Calvin: I had no 2007 income to claim for my self-empl business, can I still claim writeoffs from my home office?
Basically, I got a job workin’ “for da man” but I still want to keep my options open for keeping my self employed / home based consulting business. It would be nice if I could still write off my “home” expenses only on this years taxes. Forgot to mention my office is in my current residence. Thx!
Answer by c_fowler
I am in the same situation, from what I was told is you have 3 years to have your business become profitable. I started as an Independent agent in a co. in the latter part of “07 and no income yet they are allowing the write offs.
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