While I am not in any trouble I want to also make sure i don't get into it either. If I walked away from my business there would be repercussions. I would have a leases to break, employees to lay off, and there would be loans to pay.
My business is also something that many people do not do for a hobby.
However, I still show a lost, and have been for a few years. This is my sole income. My wife works. I do take a small salary, and I do mean small real, real small for the hours I put in.
So, should I be worried the IRS will classify what I do as a hobby or a tax doge?
Thanking you for taking the time to read my worries.