[pinaytechie]

I have a full-time job and started a side business in Dec 2007. I paid 500 for the license on that business in Dec 2007. If the side business did not produce profit coz I just started in Dec 2007 , can I still file a Schedule C and deduct the $500 I paid for the license? How will that affect my Taxable Income suppose my taxable income from my fulltime job (W2) is 60K. Is it worth filing a Sched C for the $500.. will that lower mytax or taxable income?

[luv_the_red_head]

It might make a little difference. You can go to irs.gov, and they have all of that mapped out. I started a business this year, and filed my own with the stuff that I learned there.