Related: Robert Reich posted earlier today that Tesla paid ZERO taxes on $5 billion in sales (earnings?), so that’s just fucking great.
this post was submitted on 03 Feb 2026
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(I'm not a professional and this is not tax advice)
However, I have a home business pulling in a few thousand a year.
About business losses, I think you're partially right. The IRS has a tile that you need to show that you're trying to make a profit, despite losses. One of the ways they do that is showing a profit over the course of a few years. (Maybe 3 out of 5 years? My memory is foggy.) But if you don't seem like a business, then you are only allowed to deduct up to the amount that you earn.
But yeah, year one of a business, you can definitely take a loss. And why not? The IRS is short-staffed so fewer audits.