4 ms·
No such thing. IRS won't let you reclassify personal consumption as business losses just by creating an LLC for it: https://en.wikipedia.org/wiki/Internal_Reve
by uvdiv 13y ago
No such thing. IRS won't let you reclassify personal consumption as business losses just by creating an LLC for it:
https://en.wikipedia.org/wiki/Internal_Revenue_Code_section_183 https://en.wikipedia.org/wiki/Internal_Revenue_Code_section_... ("hobby loss rule")