Legal Question in Tax Law in California

Buying a business tax loss

I have spent a few thousand incorporating (sub S corp) and also looking for premises, business meetings etc. I am considering buying a small cafe and am wondering if my cash outlay can be considered as a loss against my emplyoment income for this year.


Asked on 10/11/07, 7:54 pm

1 Answer from Attorneys
Donald Field Donald L. Field, Jr., Attorney at Law

Re: Buying a business tax loss

see:

http://www.irs.gov/publications/p535/

Read more
Answered on 10/12/07, 3:58 pm


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