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Level 1
June 7, 2019
Question

My business did not receive, nor did I receive any income from my business this year. Do I still file?

  • June 7, 2019
  • 4 replies
  • 9 views
Should I simply file my personal taxes?

4 replies

Critter
Level 15
June 7, 2019
What kind of business entity do you have ?   Are you a sole proprietor filing a Sch C or did you incorporate ?
Carl
Level 11
Level 11
June 7, 2019
Basically, if you were "Open for business" for even one day in the tax year, you're required to file a return. Until you file a return reporting your business as closed, sold or otherwise disposed of, the IRS is expecting a return of some type reporting business income/expenses every year, even if the income/expenses is zero. This is particularly true if your business has any assets, or claims any vehicle use.
VolvoGirl
Level 15
June 7, 2019
For a personal schedule C self employment business you can still deduct your expenses.
Alumni - Champ
June 7, 2019

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