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Business & farm
I assume that you are a single member LLC or sole proprietor; which is essentially the same from an income tax standpoint.
You just won't have anything to report on your Sch C.
Not a problem.
Depending on the state, just make sure you comply with any filings that may be required by the Secretary of State.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
‎August 18, 2020
5:06 PM