Legal Question in Business Law in Virginia
I started 2 LLC's in Virginia in August 2008.
I did not make any profit from august to december as I am just starting out.
I was wondering what kind of tax forms do I have to file?
Asked on 1/08/11, 9:45 pm
1 Answer from Attorneys
Kevin B. Murphy
Franchise Foundations, APC
As a Franchise Attorney I can say this. You need to speak with an accountant or CPA. Even though you didn't make a profit, you still are required to file a tax return. If the LLC's showed a loss, you should be able to carry that forward to other years and use the loss to offset future profits. Consult with a good business or franchise attorney in your area for specific advice.
Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.
Franchise Foundations, a Professional Corporation
Answered on 1/14/11, 7:18 am
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