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New Business, No Activity Tax Question

by dg44, Window Shopper

  • Created: February 27, 2011, 12:34 am
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2 comments

I started an LLC last year as a weekend project, but didn't have any business activity. I wanted to keep it going though. I was wondering if anyone could help me figure out what tax forms I needed to fill out.

 

Thanks

Tags: Discuss Popular Topics, Filing and Paying Taxes
‹ new busniess only 300. in 2010 tax? Charging taxes ›

jbeidle | Contributor | 3/10/2011 - 4:45 pm

Please make sure you document that you have began this business to make a profit.
Professional Web Site: http://TaxPanningStL.com

BizResearcher | Window Shopper | 3/8/2011 - 11:48 am

If you have had no business, either expenses or income, then you don't need to file taxes. If you had any expenses, you can deduct them and take a loss, but you don't want to do that often or the IRS will consider the business to be a tax shelter.