I just started a single member LLC this year, and I have yet to see any money come in. Do I need to do quarterly tax estimate payments if I had not made any money?

greenknight52800 · ‎March 29, 2021

MinhT1 · ‎March 29, 2021

You only need to pay estimated taxes if you expect to have income in 2021.

Please read this TurboTax article for more information.

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greenknight52800 · ‎March 29, 2021

I am having trouble estimating the taxes since I have not been able to drum up business. Can I skip this quarter since I've made nothing and make a payment next quarter if business picks up. At this point my estimate would be zero based on business.

ColeenD3 · ‎March 29, 2021

Yes, you can evaluate each quarter to base it on your income.

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I just started a single member LLC this year, and I have yet to see any money come in. Do I need to do quarterly tax estimate payments if I had not made any money?