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jbunge_86
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I have no income from my small business

 
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Melaine
New Member

I have no income from my small business

Based on the IRS requirement, if your business makes less than $400, you usually do not have to file if it's your only income.  Please see the IRS interactive questionnaire Do I need To File A Tax Return to determine, with accuracy, if you have to file a return or not.   While you may not have made any profits, if since you have expenses, you may want to file a Schedule C to claim them.  If you do not claim your expense in the year you pay them, you may not be able to deduct them in the future when you do have income.  Please read the following article to guide your decision; Can I File An Income Tax Return If I Don't Have Any Income?  It will provide you with advice on filing if you have any expenses, such as the cost of your business license.



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