I started an LLC 8/5/21, and have only been incurring expenses so far. All my purchases have been after the 8/5/21 date. I have spent for example $10k and made $0 as income. When I type in these numbers it obviously doesn't show the IRS is paying me money back, it shows $0 on my refund. However if I made profit this year, lets say $10k, it would still show $0.
So I don't know how to report this; I heard you can carry over expenses to offset future profits? Do I hold off on reporting these 2021 expenses? I wouldn't want to input them this year, as they aren't getting me any tax deductions.
