bda and filing taxes

[Wulf202]

If you have a dba under what circumstances would you not need to file quarterly and yearly?

No profit?
Loss?
Could it be below a certain amount and be covered under standard deduction?

[EvilRhino]

I'm still learning the LLC details; From what I understand if you don't make anything in a quarter, you don't have to pay. But at the end of the year, you still have to file, even if you have a loss. Part of that being if you don't show a profit for 3 years, they treat it as a hobby. YMMV

[Wulf202]

Specifically dba as yourself. According to co state you don't have to file with the state to dba as yourself and you cannot consider being yourself a hobby

(3) THE OFFENSE DESCRIBED IN SUBSECTION (1) OF THIS SECTION SHALL NOT APPLY TO:
(a) AN ENTITY, OR ANY EMPLOYEE THEREOF ENGAGED IN HIS OR HER EMPLOYMENT DUTIES, THAT MANUFACTURES LARGE-CAPACITY MAGAZINES WITHIN COLORADO EXCLUSIVELY FOR TRANSFER TO, OR....
(III) A FIREARMS RETAILER FOR THE PURPOSE OF FIREARMS SALES CONDUCTED OUTSIDE THE STATE

[TFOGGER]

I know as the sole member of my LLC, if I don't anticipate a tax bill at the end of the year over 5K, my accountant does not advise making quarterly payments. I still have to file a 1040 (104 for state), with my itemized deductions being the business expenses as well as the allowable personal deductions. When I had a partner in the business, we had to file form K1, which apportioned the profit/loss according to percentage of ownership. If you want, I can PM you my accountant's information, and I'm sure he can answer your question accurately.

[Wulf202]

I suppose being yourself could be a hobby if you were schizophrenic or polymorhpic.

As far as I can tell anyone who advertises (armslist) for sale to outside of the state and makes less than $499 per year and files a tax return is not bound by this law...

[spqrzilla]

If you have a dba under what circumstances would you not need to file quarterly and yearly?

No profit?
Loss?
Could it be below a certain amount and be covered under standard deduction?

The IRS does not care if you have a trade name (what Colorado calls a "doing business as") or not. It does not change your tax status. You are still an individual / sole proprietor.