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DBA Tax Return Question?
I started a DBA company last year (not much income <$100). The company has it's own EIN. Will this need a seperate tax return or will go on my personal tax return? Since there wasn't much income, I just left it all in the business checking account and didn't pay myself anything. I'm not quite sure how this works, will I end up owing much of anything?
2 Answers
- Lady KayLv 51 decade agoFavorite Answer
You will not need to file a separate return. You would include this amount on a schedule c, self employment. Here you will also deduct any normal & reasonable expenses you incurred to do this work. You will also need to complete a schedule SE. If you are using a program like Turbo Tax or TaxSlayer, this will not be too complicated.
- Anonymous5 years ago
in case you're working a company you like a company license with the city in which you're working. that is basically approximately $a hundred and fifty in keeping with 365 days. you will additionally ought to record a 1065 type. talk with a tax preparer for finished information.
