Posted 9/28/2020 16:43 (#8519925 - in reply to #8519075) Subject: RE: Losing money
Northern Ohio
My accountant has pointed out that it is bad business to show a loss on federal income, that it is better to show a minimal amount. You would lose standard deductions and such if you show a loss.
How do you pay off non depreciable assets of any size such as land without paying income tax on that amount?