Options for people who own a business that is not currently profitable?
I (28,f, Texas) have owned a small business for 4 years. 3 of those years, I was in school (college). We have been funneling all profits back into the business to make way for our next expansion step. I live at home with my parents for a small rent, have a paid off car, and have a minimal amount of bills. I work a couple of small line cook gigs if I need some extra cash. This is just a system that has worked for us while I got my degree and got ready to launch the business to the next step, which we expect to be profitable.
My income for the past couple years has been very low. Under $10k for my returns. This has become a problem for my health insurance. 2 years ago, I qualified for full coverage healthcare on marketplace ,even had dental, for $9 a month. This past year, though, I renewed my application and the cheapest plan was $525 a month! Obviously this is not an option. But, I’m getting nervous about some medical issues. What are self-employed individuals supposed to do? Did I do something wrong?
