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13998 Posts in 5105 Topics- by 81343 Members - Latest Member: terryno

September 09, 2010, 05:27:44 AM
Small Business Advice for Small Business EntrepreneursSMALL BUSINESS INFORMATION, FAQs And ANSWERSSmall Business Ideas and Home Base OpportunitiesI've never filed taxes for my small business. Help?
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Ariann B
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« on: January 15, 2010, 03:00:55 AM »

I got a DBA in 2008 but never did anything with the biz. I actually performed business services this year totalling about $1200 in revenue. I also have some business expenses and I saved the receipts. I dont have employees. If I were to file taxes, would I get a return? And how should I go about filing?
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stephenweinstein
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« Reply #1 on: January 19, 2010, 02:30:36 AM »

You must file whether or not you are going to receive any money from filing.  (If you do receive money, then the money is called a refund.  A return is what you file.)  You report the income from the business and the expenses on Schedule C or C-EZ and report the difference on the business income line of Form 1040.  If the difference is at least $400, then you also complete Schedule SE.
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