For the last two years I had incorporated myself and was working as independent contractor, getting 1099 in my company's name. Next year I will be working for w-2 (is this good or bad).
If I do not disolve my corporation, can I pay its overhead from my w-2 income and deduct it as business loss? If I do so, will hundred percent of my business loss allowed as my deduction to lower my taxable income?
If I do not disolve my corporation, can I pay its overhead from my w-2 income and deduct it as business loss? If I do so, will hundred percent of my business loss allowed as my deduction to lower my taxable income?