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clapapesa
New Member

How much does my bissn. make before I have to file taxes

can I file an extension for business 

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1 Reply
JulieCo
New Member

How much does my bissn. make before I have to file taxes

If your business is a sole proprietor or single member LLC, then the business activity needs to be included in your personal return on Schedule C, E, or F (depending upon the type of business.)  Therefore, in that scenario, there is not a separate return for the business. 

But, if your business income is $400 or more for the year, then you need to file a tax return for yourself and the business because self-employment taxes will be due on the business income. 

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