2007-08-27 08:15:35 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Uh, don't have any net income for 7 years? That doesn't sound like a good goal.
If you have $400 or more of self-employment income in a year, you must file a tax return and will owe some tax. There is no 7 year break for people starting a business.
2007-08-27 09:01:28 · answer #1 · answered by Judy 7 · 2⤊ 0⤋
A company pays taxes on its profits.
No profits, no taxes.
2007-08-27 09:27:46 · answer #2 · answered by Plea_of_insanity 5 · 0⤊ 0⤋
You can't.
You can start a business but if you are profitable, you will owe taxes. No way around that.
2007-08-27 08:20:42 · answer #3 · answered by Wayne Z 7 · 0⤊ 0⤋
Make sure that the business loses money every year.
2007-08-27 09:05:41 · answer #4 · answered by StephenWeinstein 7 · 1⤊ 0⤋