As a sole proprietor, under certain circumstances, you can deduct your business losses as an expense on your personal income tax statement.

Name: As a sole proprietor, under certain circumstances, you can deduct your business losses as an expense on your personal income tax statement.
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Sole proprietors can report business income and losses on their personal tax returns using Schedule C, allowing them to deduct business losses from their personal income.

As a Sole Proprietor, Under Certain Circumstances, You Can Deduct