I renovated a home this past year (my first rehab) and got an EIN and DBA to start a business doing this work for others as well as to continue rehabbing homes. Unfortunatley, I have a full time job that is commissioned and made very little this year as well as lost child support and ended up on the verge of bankruptcy. I pulled out my 401k to purchase the home I rehabbed and am now going to have to pay the penalty, not to mention losing the protection of my 401k now that it's out there. I want to know if I can write off any of my "sweat equity" for the work I did as well as for materials, etc, to minor if it's not really a business because of this. Also, is it better to have a registered agent who is not in the company for better protection from personal lawsuits? I am looking for a full time job and need this money to survive, but I also do not want to give up my dream business. I am afraid my personal debts are going to ruin my chances. I had perfect credit until my job fell apart
Orignal From: I have an EIN and a DBA, but have not filed Articles of Incorporation, can I deduct expenses?
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