My business is looking like we will barely break even this first quarter. Do you have to pay quarterly self employment tax if you have no profit from your business?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

My business is looking like we will barely break even this first quarter. Do you have to pay quarterly self employment tax if you have no profit from your business?

 
1 Reply
Level 6

My business is looking like we will barely break even this first quarter. Do you have to pay quarterly self employment tax if you have no profit from your business?

If you project to have no profit in 2019, you do not need to pay estimated taxes, or you could reduce the payments to suit your projected profits.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Dynamic Ads
v
Privacy Settings