I'm new to the world of entrepreneurship and had high hopes of landing clients for my freelancing business last year, but unfortunately I had no luck and did not earn any income at all.
I apologize if this comes across as a dumb question, but since I made literally zero income, I don't have to file taxes for last year right? I'm the owner of a single member LLC so I think my taxes are taxed and perceived the same as those who are sole proprietors. I began paying for my business expenses (monthly fees for management system subscriptions and bank fees with the money I deposited in my business bank account when I first created it.
I'm still searching and applying for job opportunities right now, and hoping to finally get clients this year to compensate for last year's financial flops.
It's way less embarrassing asking this online than in person with a tax professional lol. So I really appreciate your input, thank you!
