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If my corporation has no income and has some expenses, do I need to file a tax return?

Posted by admin on Mar 8th, 2009
corporation tax
Kiran C asked:


I have a small business that I started in 2007. There will be no income until April 2008. The tax year will be calendar and the accounting system is cash. I have expenses for 2007. Am I required to file a federal tax return? Can I carry over the expenses to the 2008 returns? What are the benefits of carrying the expenses to 2008?

6 Responses

  1. #1 Rising Star

    You’re not required to file, but reporting the expenses alone will help you to get some deductions for this year.

  2. #2 pinkdayzie86

    youd probably get a credit if your expenses were higher than ur income…

  3. #3 bradxschuman

    Yes..you’d file it with a Profit & Loss form.

  4. #4 ShamWOW!!!!

    You still have to file a tax return

  5. #5 nickelrustler

    You don’t have to but you should..you are owed a return

  6. #6 unknownchild

    i dont think so because a person doesnt pay taxes unless they make like 3000 in a year and i can only assume that the only dif is the starting income

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