You don't need Hollywood accounting when the expenses exceed the revenue, you can still pocket the revenue for yourself though. You can just stagger things across tax years.
Everyone should do themselves a favor and pay for a CPA firm (not just your friend that happens to be a CPA), learn some things just treat it as expensive education.
Its very different doing exploratory stuff with a CPA, compared to needing a CPA last minute for a problem you already have. They have excerpts from journals they are subscribed to that can inspire you about things you didnt know.
Everyone should do themselves a favor and pay for a CPA firm (not just your friend that happens to be a CPA), learn some things just treat it as expensive education.
Its very different doing exploratory stuff with a CPA, compared to needing a CPA last minute for a problem you already have. They have excerpts from journals they are subscribed to that can inspire you about things you didnt know.