<p>
According to OP’s example, he has $400,000 in income and $300,000 in expenses for a $100,000 net income. i.e. the $300,000 isn’t “loss” over and above the $400,000 but the expenses of the business, which still provides him an income.</p>
<p>
According to OP’s example, he has $400,000 in income and $300,000 in expenses for a $100,000 net income. i.e. the $300,000 isn’t “loss” over and above the $400,000 but the expenses of the business, which still provides him an income.</p>