0
Do you have to file a tax return on a business with no money earned?
Wiki User
∙ 15y ago
Yes. Plus in business losses from onw year can be used to offset income in another.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
What if you do not file a tax return?
If you had no earned income, or you were, perhaps receiving SSI benefits as your only income, then there is no need to file a tax return. However, if you had earned income and make it a habit to not file, it will eventually catch up with you and could be the result of an audit and you owing the IRS.
Do you file an income tax return if you have made no money this year?
No, if you made nothing in the year. If you are self-employed and have filed in previous years, then you also need to file for the prior taxable year. There is big difference between money earned and what is considered a profit in self-employment.
Does a new dba have tp file taxes if it made no money?
DOING BUSINESS AS (DBA) yes it could be very possible that a business federal income tax return would need to be filed.
When do children need to file a tax return?
Children only need to file a tax return if they are being payed a regular salary for a job, or if they have their own business. Depending on the legal setup of the business, you may have to pay taxes on the business's income as well as your personal income.
Do college students need to file an income tax return?
If you have earned income over $900 you do. If you have any w-2's or 1099's you have to file.
Does a person released from a court on bail money have to file taxes on that money?
No, it is not considered earned income, nor can it be deducted as a business expense.
Why might you want to file a federal tax return even when you don't owe taxes?
If you worked, you may have had money withheld from your paycheck. This means that although you may not have earned enough money to be required to file a tax return, filing the return may result in a refund that the IRS will pay you. You may also qualify for refundable credits like the Earned Income Credit that can be refunded to you. So, sometimes it is in your interest to file a return even if you are not required to do so.
Does your child need to file taxes for their Social Security money?
A child who is a dependent and earns income must file a return if they earned the specified amount of money as mentioned on the income tax form.
What if you do not file a tax return?
If you had no earned income, or you were, perhaps receiving SSI benefits as your only income, then there is no need to file a tax return. However, if you had earned income and make it a habit to not file, it will eventually catch up with you and could be the result of an audit and you owing the IRS.
Do you file an income tax return if you have made no money this year?
No, if you made nothing in the year. If you are self-employed and have filed in previous years, then you also need to file for the prior taxable year. There is big difference between money earned and what is considered a profit in self-employment.
Does a new dba have tp file taxes if it made no money?
DOING BUSINESS AS (DBA) yes it could be very possible that a business federal income tax return would need to be filed.
How do you file for a?
You file your return, like everyone else, and if you owe money you pay it and if you have a refund coming, you receive it.
When do children need to file a tax return?
Children only need to file a tax return if they are being payed a regular salary for a job, or if they have their own business. Depending on the legal setup of the business, you may have to pay taxes on the business's income as well as your personal income.
Should I file your business and home on one tax return?
One person files one tax return for whatever income and expenses that person may have, whether relating to a business or a home. However, if you business is incorporated, then it has to file corporate income tax as well.
Do I Filling annual tax filling form?
If you worked then you need to file an income tax return. If you have a business then you will also need to file a tax return in order to remain compliant.
How do you file for a refund?
You file your return, like everyone else, and if you owe money you pay it and if you have a refund coming, you receive it.
Do college students need to file an income tax return?
If you have earned income over $900 you do. If you have any w-2's or 1099's you have to file.
