104478
You'll need to sign in or create an account to connect with an expert.
Not necessarily, because there are years that some businesses go without making a profit, this situation is not unusual. While you may not have made any profits, if you have expenses you will
want to file a Schedule C to claim them, therefore, regardless if you made a profit or not it is best to file your return. If you do not claim your expense
in the year you pay them, you may not be able to deduct them in the future when
you do have income. Please read the following article, while it is about no income, it can pertain to you as your business was not profitable this year; Can
I File An Income Tax Return If I Don't Have Any Income?
Not necessarily, because there are years that some businesses go without making a profit, this situation is not unusual. While you may not have made any profits, if you have expenses you will
want to file a Schedule C to claim them, therefore, regardless if you made a profit or not it is best to file your return. If you do not claim your expense
in the year you pay them, you may not be able to deduct them in the future when
you do have income. Please read the following article, while it is about no income, it can pertain to you as your business was not profitable this year; Can
I File An Income Tax Return If I Don't Have Any Income?
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
RE-Semi-pro
New Member
Bradley
New Member
andredreed50
New Member
user17522839879
New Member
RobertBurns
New Member