CPAS: Can I have write offs if I don't make any money...yet
I'm a new investor (have a separate W2 job), looking to build storage in near future. Every day/night I've been driving around looking for land, talking to brokers on phone, using my computer to find potential properties, etc etc. Can these be tax write offs (home office, phone, car expenses, etc) even though I won't technically be making money for some time until everything is completely built and leased? Also, Ive bought office supplies, went out to eat with contractors, and more, should I be using a business credit card? I do want to separate my business and home expenses, but even if I had a business CC, I'd still have to pay it off with my personal money because its going to be awhile before I'm making income. How do I get started appropriately? Thanks so much!