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02-11-2007, 09:36 PM
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 Business Taxes Okay, so I have a business for almost a year and it's tax time. I pay a tax for my license or something to the town in June. Do I have to file something now as well? I don't have any employess, nor have I made any profit or sold anything. It's a sole-p by the way. Thanks in advanced if anybody could point me in the right direction.
__________________ http://www.andrewfitz.com      |
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02-11-2007, 10:09 PM
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| For sole proprietorship you have to just file a Schedule C ("Profit or Loss from Business") along with your 1040. You may not have to file if you have no income from the business, but if you want to claim business losses against your other income you'll have to do it. Ideally it's always best to talk to a CPA to make sure you're complying properly with everything. Here's an article I found. Just do a search for "schedule c" and you'll get plenty of info. Last edited by Baltar : 02-11-2007 at 10:13 PM. |
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02-12-2007, 05:16 AM
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| Thanks, that helps. But what if I have a Employer ID number? Does that change anything?
__________________ http://www.andrewfitz.com |
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