New Post/Thread Notification: CreditWrench IRS TAX FORUM

Hello,

formalizingBusiness has just posted in the CreditWrench IRS TAX FORUM forum of CreditWrench under the title of Do I need to file a tax form for 2006 Q1?.

This thread is located at http://www.creditwrench.com/consumers/showthread.php?threadid=1041

Here is the message that has just been posted:
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I'm reading "Tax Savvy for Small Business" by Nolo, and I find the following statement:

Are business owners employees?

Sole proprietors, limited liability company members and partners are neither employees nor independent contractors of the business. Those owners don't have to fool with payroll tax withholding and paying. Instead, the owners mail quarterly estimated taxes to the IRS. However, working shareholders/owners of corporations - C or S corporations - are employees and subject to payroll taxes.

Source - Tax Savvy for Small Business, Nolo

I have a company formed in 2006 Q1, but the company has not made any money yet for variety of reasons. Also I have some priority, and I may not be able to finish up some administrative work so that the company will start making money (I am making money as an individual as of right now). Do I still need to file a tax form for 2006 Q1 or I can disregard it (and starting filing a form or three in 2006 Q2 or 2006 Q3)?
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