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 Date of birth 24/01/65 and time is 01:00 am, pl tell my carreer? |
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trump2b | I started a corporation 9/06. Do I have to pay taxes for the last quarter even if it hasn't made any profits? |
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pharaoh_01
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Actually you can still show a loss, or that your corporation didn't make any positive income, but either way you'll still need to file your quarterly return showing what's going on. Of course it depends on the type of corporation, some are only required to file once a year. It doesn't matter whether you owe taxes or not, but that you FILE YOUR RETURN. that's where a lot of corporations get in trouble. |
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whatevit
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You have to do the paper work. You have tax forms that have to be filled in, it will result in you not having a tax liability.
Everyone has to file a tax return, if they make any money or not. They only have to pay if there is a certain level reached. |
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mark
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The larger question is are charging personal expenses to the corporation (creating a loss). You can get away with a loss for 1 or two years, before the IRS considers your corporation a hobby, and will disallow charging off expenses such as car, cell phone, rent, office supplies.....etc. |
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wjvv
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No profit, no tax. You might even have a write off on your personal taxes. |
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thelement_99
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as far as i know no i believe their is a 1or 2 year grace period |
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Frank Castle
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No. |
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