Schedule C

[barbgreenx]

Hello

This is my clients second year filing a schedule C. Year one he had a profit of $1200.00. This year his income from the business was only $800. However, he paid over $31,000 in marketing expenses my concern is there a limit on how much of a loss can be deducted on a schedule C? He had no startup expenses the first year.

Thank You

BG

[Just-Lisa-Now-]

What kind of marketing did he do for 31k?  What kind of business is it?

[sjrcpa]

Sounds like he bought into some program/system.

What kind of business is this supposed to be?

[rbynaker]

<sniff, sniff>  Smells like a scam.  Doesn't mean it's not an ordinary and necessary scam.  How's the 2024 business shaping up?