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<p>[QUOTE=&quot;CamaroDMD, post: 1861445, member: 5233&quot;]A write off is basically a tax allocation of your expenses.&nbsp; Basically, money spent on your business isn&#039;t taxed.&nbsp; For example, if you spend $300 on a microscope for your business...that $300 isn&#039;t part of your taxable income.&nbsp; Certain kinds of businesses can write off all expenses and negative equity...some kinds can&#039;t.</p><p><br /></p><p>If you have greater expenses than income your business (usually) is in trouble.&nbsp; Now, most businesses need start up money (working capitol) to get going and many businesses lose money at first.&nbsp; You will need to invest personal working capitol into your business to keep it afloat until it begins to support itself.</p><p><br /></p><p><br /></p><p>Remember, you are talking about a retail business...and most retail businesses have a very narrow profit margin.&nbsp; So, it&#039;s critical to minimize your expenses and be very smart about what you do with your money.</p><p><br /></p><p>Like GD said, find a good accountant and talk to them about this if you are serious.&nbsp; They are the real experts in this field.&nbsp; Problem is, accountants aren&#039;t cheap...especially good ones.[/QUOTE]</p><p><br /></p>

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