I have two sources of income:
1. As an employee of a company, I receive a $75,000 annual salary.
2. As an individual proprietor, I receive about $25,000 per year in profits, but this fluctuates.
Last year, I had a loss of $10,000 in my sole proprietorship. Can I deduct this from my $75,000 salary when determining my 2013 federal taxable income?