My wife started a part-time, private physical therapy practice in September 2018. She has elected to run the business as a sole proprietor. With start-up costs, she did not show a profit for the last quarter of 2018 so we did not pay any quarterly taxes and she carried over a loss of about $6k to 2019. For the first quarter of 2019, she was profitable about $1k. Do I need to send in an estimated payment for taxes for that profit or does the carry-over loss wash out any monies due until there is a cumulative profit in 2019?
Thanks for your help,
Brian
