https://ttlc.intuit.com/community/self-employed-group/discussion/new-venture-experiencing-loss/01/3085930#M11859 <P>If expenses exceed revenue at this juncture...I'm figuring estimated taxes at zero? Is there a penalty if I don't pay self-employed quarterly estimated taxes? I file a schedule c.&nbsp;</P> Tue, 24 Feb 2026 07:04:35 GMT DRDEB6518 2026-02-24T07:04:35Z https://ttlc.intuit.com/community/self-employed-group/discussion/new-venture-experiencing-loss/01/3085930#M11859 <P>If expenses exceed revenue at this juncture...I'm figuring estimated taxes at zero? Is there a penalty if I don't pay self-employed quarterly estimated taxes? I file a schedule c.&nbsp;</P> Tue, 24 Feb 2026 07:04:35 GMT https://ttlc.intuit.com/community/self-employed-group/discussion/new-venture-experiencing-loss/01/3085930#M11859 DRDEB6518 2026-02-24T07:04:35Z https://ttlc.intuit.com/community/self-employed-group/discussion/re-new-venture-experiencing-loss/01/3086026#M11860 <P>If expenses exceed income, then you are correct you won't owe any tax.</P> <P>&nbsp;</P> <P>You will file Schedule C <SPAN>as a sole proprietor or as a single-member&nbsp;</SPAN><A href="https://turbotax.intuit.com/tax-tips/small-business-taxes/llc-tax-filing-rules/L39E29kPR" target="_blank">Limited Liability Company</A><SPAN>&nbsp;(LLC). You wouldn't use a Schedule C to report business income and expenses of a C Corporation or S corporation.</SPAN></P> <P><SPAN>Please click<A href="https://turbotax.intuit.com/tax-tips/irs-letters-and-notices/guide-to-irs-tax-penalties-how-to-avoid-or-reduce-them/L7Unetw5B" target="_self">&nbsp;here</A> for information on penalties.&nbsp;</SPAN></P> <P><SPAN>Please click <A href="https://www.irs.gov/businesses/small-businesses-self-employed/estimated-taxes" target="_self">here</A> for IRS guidance on estimated taxes </SPAN></P> Wed, 30 Aug 2023 16:49:51 GMT https://ttlc.intuit.com/community/self-employed-group/discussion/re-new-venture-experiencing-loss/01/3086026#M11860 sirshad1 2023-08-30T16:49:51Z