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New Member
posted Jun 6, 2019 6:03:33 AM

I created my llc during summer of 2017, not made sells yet. Do I still need to file for taxes?

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1 Best answer
New Member
Jun 6, 2019 6:03:36 AM

No, not unless you had other income. You are only required to report net earnings from self-employment of $400 or more.  Net earnings is gross sales minus business expenses.

5 Replies
New Member
Jun 6, 2019 6:03:34 AM

What is a 20q7 form?

New Member
Jun 6, 2019 6:03:36 AM

No, not unless you had other income. You are only required to report net earnings from self-employment of $400 or more.  Net earnings is gross sales minus business expenses.

New Member
Jun 6, 2019 6:03:36 AM

I was told that I needed to file an 20q7 form. What's that?

New Member
Jun 6, 2019 6:03:38 AM

Could that be a typo? do they mean 2017 form. I can't find anything on 20q7 form.  Who was it that told you?

New Member
Jun 6, 2019 6:03:39 AM

Yep, for sure it was a typo from a friend who was trying to answer my question. No such thing as 20q7 form apparently ...thanks for your answers, very helpful!