Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 03-08-2018, 09:01 PM
Junior Member
 
Join Date: Mar 2018
Posts: 3
Need help in Texas!

Ok, this is kinda crazy, but stay with me. I have a business,(LLC Sole proprietor, no employees) but I did not have any income/profit last year because I took on a regular job. Here are my questions. 1. How/what do I file? 2. How do I close my business? I have no inventory or equipment.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 03-09-2018, 01:52 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,083
1. How/what do I file? ======> you do not need to file a sch C of 1040 since you have neither deductible expenses nor income for your business;


2. How do I close my business? I have no inventory or equipment.=======>Sinc e your biz is a SMLLC, there is a procedure to formally shut down your SMLLC.ypoiu need to follow a section with rules for dissolution contained in your company?s formational documents?the articles of organization and operating agreement.you need to contact your home state?s secretary of state for more accurate info in detail



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #3 (permalink)  
Old 03-09-2018, 08:25 PM
Junior Member
 
Join Date: Mar 2018
Posts: 3
Quote:
Originally Posted by Wnhough View Post
1. How/what do I file? ======> you do not need to file a sch C of 1040 since you have neither deductible expenses nor income for your business;


2. How do I close my business? I have no inventory or equipment.=======>Sinc e your biz is a SMLLC, there is a procedure to formally shut down your SMLLC.ypoiu need to follow a section with rules for dissolution contained in your company?s formational documents?the articles of organization and operating agreement.you need to contact your home state?s secretary of state for more accurate info in detail
So don't need to file any forms at all?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #4 (permalink)  
Old 03-09-2018, 08:29 PM
Junior Member
 
Join Date: Mar 2018
Posts: 3
So I don't need to file any forms at all, right? Just making sure because I was told I had to file "something" even though I never conducted business. My business bank account is even closed.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #5 (permalink)  
Old 03-10-2018, 08:12 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,083
Quote:
Originally Posted by rkf63k10 View Post
So I don't need to file any forms at all, right? Just making sure because I was told I had to file "something" even though I never conducted business. My business bank account is even closed.
as said since you had neither income nor deductible biz related expenses you do not need to file your Sch C of 1040



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Sales tax for training in Texas? swengtr Limited Liability Company 4 06-04-2017 02:55 AM
Texas Community Income agilityvision Filing Requirements 0 03-30-2015 04:05 PM
v-sweeps for Texas question dk8721 Itemized Deductions 3 03-11-2014 06:34 PM
What Does a CPA in Texas Typically Make GregorysSimp Estimated Taxes 0 03-02-2013 06:20 AM
File Texas Sales Tax GregorysSimp Estimated Taxes 0 02-25-2013 02:43 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning