New venture; experiencing loss

[DRDEB6518]

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. 

[sirshad1]

If expenses exceed income, then you are correct you won't owe any tax.

You will file Schedule C as a sole proprietor or as a single-member Limited Liability Company (LLC). You wouldn't use a Schedule C to report business income and expenses of a C Corporation or S corporation.

Please click here for information on penalties. 

Please click here for IRS guidance on estimated taxes