In early 2024, I started a new LLC business and paid a franchise fee to be a franchisee. I have not opened the business as of yet so we have no income for 2024. The only expenses I have to date are:
1. Business Registration Fee
2. Franchise Fee
I understand that I can't take Startup Expense Deduction until I start operating the business and generating revenue. With all of this, do I actual file a tax return (Form 1065) for the LLC in 2024?
