<michael.isidro[at]gmail.com> wrote in message
news:23ed78d6-9609-4018-99fd-0f7c2b376e87[at]s20g2000yqh.googlegroups.com...
- quote -

The money you've spent so far will likely qualify as START UP COSTS which
you can amortize over 15 years or which you can elect to expense when you
start operations. Since you've had no income it seems you have not yet
started operations so you MIGHT be able to simply carry these costs until
you open the doors.

You should still file the appropriate income tax form, if for no other
reason than for proper disclosure.

Your bigger concern though should be your annual filings with the Secretary
of State - or States. When you formed your LLC you had to file some forms
with a state agency to get LLC status. Most states have annual filing
requirements JUST to keep the organization alive and able to do work within
the state. If, like far too many people who don't know better, you formed
your LLC is a state other than the one you live in, you will most likely
need to file an annual report in BOTH the state of formation and the state
you live in.

Good luck,
Gene E. Utterback, EA, RFC, ABA

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<michael.isidro[at]gmail.com> wrote:

- quote -

As an LLC, your taxation is the same as any other sole proprietor.

If the activity meets the test of being a business instead of
a hobby, then you fill out Schedule C to report expenses.
Some start-up expenses amortize over 60 months; others are
subject to depreciation rules.

There is a wealth of information in Pub 334.

Steve

--
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Hello,

I formed an LLC in November 2008 to start a web-based e-commerce
business. I have since had to put the project on hold, and have not
launched the site yet. I have not earned any income through the LLC,
and have paid for the setup of the company out of my own pocket.

What is your feedback on taxation? Do I have to actually earn income
or show a loss to file taxes in 2008?

I would appreciate any help on this matter.

Thanks,

Michael

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >