business online tax extension
tax issue?
I started a fun, online business shirt (www.originaletees.com) year last and has no money, I even lost money. In addition, I work full time and know that my government owes money. I collected unemployment for two weeks during the summer while I worked, but taking money from taxes. Should I file an extension or I can do my taxes later? Please answer this question if you are a tax professional or if you know what you mean. Thank you.
What part of the filing deadline on April 17 you do not understand? Is it necessary to work on your tax situation before that date. If you have a refund coming, you can file a exetension without payment or penalty. If you reason, is just an extension exetension the filing deadline, not the time to pay, so you must enclose a check with your extension. Many people "know" is due a refund and the end of the file only to discover he did not know what they thought they knew and now have to pay penalties and interest on top of it. Only because you did not make a profit on your cash flow for your new business does not mean you have a loss to tax purposes. Initial costs are capitalized and amortized in 15 years. You can ask $ 5k the first year, but everything else is written off and this may lead to cash flow "loss" but taxable income at year end.
Tax Extension Online In USA – Business Tax Extension – Personal Tax Extension
