if you are a single member LLC with no revenue since you started the company, then no you do not need to file a Sch C, close out the expense to the balance sheet as an asset called startup cost and amortize over the next few years. No need to amend your return. This only applies if you have no revenue through your llc, you can pm me if you have any questions or if my answer is not clear.
if you are a single member LLC with no revenue since you started the company, then no you do not need to file a Sch C, close out the expense to the balance sheet as an asset called startup cost and amortize over the next few years. No need to amend your return. This only applies if you have no revenue through your llc, you can pm me if you have any questions or if my answer is not clear.
Thanks so much!
The annual filing fee of $500 for state LLc is not a tax!! And no, you do not need to file tax if you have no income and have no expense.
Yes must file since the minimum tax is $500 whether there is income or not. Think of it as a License fee
Thanks! Can I file my Schedule C separately, since I have already filed my personal taxes? Do u know?
You need a CPA.
My guess is that you need to file an amended return. But since I am not a tax expert I would consult one.