Hello, I'm asking a question about file quartly payroll taxes.
My business will not be open until late March 2013.I got my ein# on September
11,2012,do I have to file any taxes this year. I will have two empolyee come
2013. can anyone help me.
As others have indicated, you may not have to pay taxes, if you have no
income or expenses but you may need to file a return, based upon the tax year
you have chosen when applying for your EIN.
MarkAcantilado | Window Shopper |
10/16/2012 - 10:18 am
No. Since you haven't opened your business yet, you will not be oblige to pay
any taxes since you didn't have any income for the year. You will only be
obliged to pay your taxes when you have started your business running well.
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No, you don't. I.e., if you don't have any income or deductions to report
then you don't owe an income tax return (or schedule within another tax
return).
And if you don't have any employees for whom you've been withholding taxes,
etc., you don't owe a payroll tax return or payroll tax deposits.
HOWEVER all that said, if on your EIN application you indicated you would
begin paying payroll in 2012, you may want to file a 941 return and show
zeroes. This would be a way to explicitly say to IRS, "Hey, guys, I had zero
payroll."
BTW, I have had IRS revenue agents ask me for such "zero balance" returns for
small businesses that didn't have payroll. That's why I make this comment.
Good luck with your new business!
Stephen L. Nelson, CPA, Author QuickBooks for Dummies
No, you don't. I.e., if you don't have any income or deductions to report
then you don't owe an income tax return (or schedule within another tax
return).
And if you don't have any employees for whom you've been withholding taxes,
etc., you don't owe a payroll tax return or payroll tax deposits.
HOWEVER all that said, if on your EIN application you indicated you would
begin paying payroll in 2012, you may want to file a 941 return and show
zeroes. This would be a way to explicitly say to IRS, "Hey, guys, I had zero
payroll."
BTW, I have had IRS revenue agents ask me for such "zero balance" returns for
small businesses that didn't have payroll. That's why I make this comment.
Good luck with your new business!
Stephen L. Nelson, CPA, Author QuickBooks for Dummies
eadtech | Window Shopper | 10/20/2012 - 4:14 am
income or expenses but you may need to file a return, based upon the tax year
you have chosen when applying for your EIN.
jtowbin | Community Moderator | 10/16/2012 - 3:35 pm
MarkAcantilado | Window Shopper | 10/16/2012 - 10:18 am
any taxes since you didn't have any income for the year. You will only be
obliged to pay your taxes when you have started your business running well.
SeattleCPA | Window Shopper | 10/15/2012 - 2:25 pm
then you don't owe an income tax return (or schedule within another tax
return).
And if you don't have any employees for whom you've been withholding taxes,
etc., you don't owe a payroll tax return or payroll tax deposits.
HOWEVER all that said, if on your EIN application you indicated you would
begin paying payroll in 2012, you may want to file a 941 return and show
zeroes. This would be a way to explicitly say to IRS, "Hey, guys, I had zero
payroll."
BTW, I have had IRS revenue agents ask me for such "zero balance" returns for
small businesses that didn't have payroll. That's why I make this comment.
Good luck with your new business!
SeattleCPA | Window Shopper | 10/15/2012 - 2:25 pm
then you don't owe an income tax return (or schedule within another tax
return).
And if you don't have any employees for whom you've been withholding taxes,
etc., you don't owe a payroll tax return or payroll tax deposits.
HOWEVER all that said, if on your EIN application you indicated you would
begin paying payroll in 2012, you may want to file a 941 return and show
zeroes. This would be a way to explicitly say to IRS, "Hey, guys, I had zero
payroll."
BTW, I have had IRS revenue agents ask me for such "zero balance" returns for
small businesses that didn't have payroll. That's why I make this comment.
Good luck with your new business!
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