Consult your tax advisor, but I believe the fact that you have no
revenue in your first year means that any expenses you have are
"start-up costs". To deduct these you must amortize them over several
years starting in a tax year where you do have revenue.

-Will

netcomm888[at]yahoo.com wrote:
- quote -

You'll probably be able to use Schedule C, but check with your tax advisor
to be sure you are setting the right organization and it will pass muster
with the IRS

<netcomm888[at]yahoo.com> wrote in message
news:1111191752.496276.277520[at]l41g2000cwc.googlegroups.com...
- quote -

I'm planning to stat a LLC. I myself will be the only employee at the
beginning. But I will continue to work my current full-time job at the
same time.
My LLC mostly will deal with Chinese customers. Hence I need to fly to
China once for a while (pretty costly trip!). I really don't expect any
revenue in the first year, mainly to spend some time to build my
customer base by providing some free services. So obviously, the first
year my LLC will incur a loss.
My question is Can I pass that loss into my personal income tax and get
deduction on my personal income tax?

Thanks in advance.