Registered an LLC but it didn’t make money? Unfortunately you might still have to file tax document

If your LLC didn't make any money, you still might have to file tax documents with the IRS. Determining whether you have to do this or not depends on how your LLC is taxed. If the LLC is owned just by yourself, then by default it's taxed as a disregarded entity unless you elected to have it taxed some other way. If your LLC is a disregarded entity, then you'll have to file a Schedule C if your LLC made over $400 that year. If your LLC didn't make over $400 that year, but you did spend money to to get the business started, then you might still want to file Schedule C so that you can deduct those costs and expenses. Keep in mind, in California you may still have to pay the $800 franchise tax fee regardless of whether or not your LLC made any money at all. In my next video, I'll explain what happens if your LLC is taxed as a partnership and what happens if your LLC is taxed as an S corporation or a C corporation. Thanks, and follow me for more business-related tips.