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emc011075
emc011075, Tax adviser
Category: Tax
Satisfied Customers: 2316
Experience:  IRS licensed Enrolled Agent and tax instructor
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I am a small LLC business with 0 employees I was told that I

Customer Question

I am a small LLC business with 0 employees I was told that I do not have to file a tax return for the first five years
Submitted: 6 months ago.
Category: Tax
Expert:  emc011075 replied 6 months ago.
Hi. My name is ***** ***** I will be happy to help you. It is not true. You need to file a tax return if your total income is more than filing requirements and if your LLC is single member LLC, you need file a return if you make more than $400 (income - expenses). If your LLC elected to be taxed as corporation or Scorp or it is a partnership, you need to file a return even if you do not have any activity.
Expert:  emc011075 replied 6 months ago.
I see you read my respond. Do you have any questions? Is there anything else I can help you with today?
Expert:  emc011075 replied 6 months ago.
I see you offline now. So if this answered your question, please take a moment to rate my response so that I may receive credit for assisting you today. You find the rating bar on the top of the page – 5 stars. However, if you need clarification, or want to discuss this issue further, let me know. Thank you.

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