<<Can expenses incurred this year, but no income from this enterprise, be carried over to next year when there will be income?>>Generally speaking, no. As a tax basis taxpayer, you are required to report expenses when they are paid...not necessarily when you desire to report them.But, on the other hand, if these expenses could be classified as "start up" expenses, they are then required to be capitalized and the expense amortized over a number of years.You can read more about these issues in IRS Publications 535 and 583 at the IRS web site. If you are starting a business, these two publications are required reading for you in any event.TMF TaxesRoy
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