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From: joepwro@ihopa.UUCP (Joe Wroblewski)
Newsgroups: net.taxes
Subject: Employee and A Business Owner
Message-ID: <150@ihopa.UUCP>
Date: Tue, 31-Jan-84 16:59:07 EST
Article-I.D.: ihopa.150
Posted: Tue Jan 31 16:59:07 1984
Date-Received: Sun, 5-Feb-84 04:11:14 EST
Organization: AT&T Bell Labs, Naperville, IL
Lines: 15

I have a question regarding people who are both an employee and a business
owner.  When filing for taxes, must the incomes be seperated or can they
be combined?  The real question is, if the business just so happens to 
lose money, can the losses be subtracted from the employee salary?

Question 2:  What makes a small business legitimate?  Do you need a license?

The reason I ask is what happens if a business loses money five years in
a row.  Will the IRS question the legitimacy of the business?

Please post of netnews or send me mail.


					Thanks,
		Joe P. Wro