I am not sure I understand the intent of this question --- a business is started and operated with the intent of making money and assets are bought and used for the same purpose. The type of entity has nothing to do with it. If you are inquiring about a business being used for the purposes of reducing personal income tax , then this is wrong place for that kind of advice. This place is only for help in preparing a correct return by using TurboTax software.
But if you are talking about a business is making very little in terms of net income such that the owner's taxable income is zero or thereabouts , then you still have to file and pay the SE taxes ( 15.3 % SECA) on most of the net income. Thus you have to file.
Am I in the left field on this ?
