Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.1 exptools 1/6/84; site ihopa.UUCP Path: utzoo!linus!decvax!harpo!ihnp4!ihopa!joepwro 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