Isnt there a tax owed abetment program? Meaning, if I just started my LLC activated for 2023. I didnt make any federal tax payments for my 2023 burden. Is there a relief program? I heard somewhere that its a one time thing someone can do for up to $50K owed.
and if you don't after 3 years you get red-flagged as to why you are carrying a loss, besides we are not in business to not make profit annually, if that is the case it's time to make changes or close it down.
Threshold is $5,000 as a reseller. I made $7,500 last year but my expenses (supplies, shipping, stock and inventory) was $3,000. I should be in the good!
Great content!
Isnt there a tax owed abetment program? Meaning, if I just started my LLC activated for 2023. I didnt make any federal tax payments for my 2023 burden. Is there a relief program?
I heard somewhere that its a one time thing someone can do for up to $50K owed.
If you make more profit, you pay more tax 🙂
and if you don't after 3 years you get red-flagged as to why you are carrying a loss, besides we are not in business to not make profit annually, if that is the case it's time to make changes or close it down.
More taxes is a good problem to have. Means youre making more money.
Threshold is $5,000 as a reseller. I made $7,500 last year but my expenses (supplies, shipping, stock and inventory) was $3,000. I should be in the good!