I just started a home-based business this year in the art and graphics sector. I just finished doing my taxes complete with Schedule C. I really had no profit this year (just a part-time business starting out) although I did have expenses. What I don`t quite understand is that my federal refund seems to be about the same as its been in years past (without any business deductions). I thought it might be a little larger. Can anyone explain (with this limited info) something I might be missing? Also - any recommended resources to read up on that might explain these concepts and ideas?
Thanks to all who can shed some light on this relatively new topic,