High Income but High Loss

[sylvan8798]

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@mom2collegekids

Some of the things that probably get added back in are car expenses (lease, registration, insurance, gas, repairs/maintenance). The assumption is that the person needs a car anyway and must pay insurance. So, if the car lease/payments, registration, and insurance are added back in, that could be about $8k per year right there.

If the car(s) in question are used only for the business activities, then op would not need them in the absence of the business. Presumably, he has another car for his personal use.<br>

@Damond3

P.S. my automobiles for business are used EXCLUSIVELY for business as indicated on the tax return (100% business use)

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