Do I have to pay taxes on a business that is losing money 2024?
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Works at the International Fund for Agricultural Development, Lives in Rome, Italy.
If the total deductible expenses for your business are greater than its income then it will have a loss for tax purposes. The business will not have to pay tax and the loss can generally be used to reduce income in future income years.
2023-05-12 00:38:55
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Isabella Clark
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If the total deductible expenses for your business are greater than its income then it will have a loss for tax purposes. The business will not have to pay tax and the loss can generally be used to reduce income in future income years.