Regarding how to file business taxes with no income, you shouldn’t file if:
See Also
Depreciation & How it Affects Your Business | The HartfordHow to Deduct Business Meals in 2023: Ultimate Guide2023 Tax Deduction Cheat Sheet and LoopholesHow Does My Business Loss Affect My Taxes?- You weren’t actively engaged in a trade or business.
- You were preparing to begin your business.
You can either deduct or amortize start-up expenses once your business begins rather than filing business taxes with no income.
If you were actively engaged in your trade or business but didn’t receive income, then you should file and claim your expenses. Ex: You’re paid upon completion of your work.
You should still file, even if you haven’t received income yet. You can show a loss on Schedule C when filing taxes with no income to offset other income.
