You are correct, there are very strict rules so you do need to make an attempt at making money (the definition of a "business"). If you are actually making a p

You are correct, there are very strict rules so you do need to make an attempt at making money (the definition of a "business"). If you are actually making a profit (thereby paying taxes for your business entity "the LLC"), then it makes it much easier. Now that I think about it, I think I end up paying my accountant/tax firm about $30k/year mostly for tax returns (I do most of the accounting myself in Xero)