Taxes on an internet business with no profit?
July 29th, 2009
srgunmas asked:
As a side job, I run an internet site. Eventually, I hope to have everything funded through donations, but until then everything has come out of my own pocket.
As a side job, I run an internet site. Eventually, I hope to have everything funded through donations, but until then everything has come out of my own pocket.
In any event, I didn’t make a profit off of this site, but was curious if I still have to pay taxes on it. I’m also interested in whether or not running the site would qualify me for small business tax benefits.