USA LLC, tax return for 3rd quarter, expenses incurred in first and second quarter

[Iliana]

Hello,

My company is LLC, so I pay taxes quarterly.

I started my company in March.

The company started earning income in August but before that I had many business related expenses in January-July.

Now I am paying taxes for the third quarter (July-September).

May I include business expenses made in January-July (1st and 2nd quarter when my company did not earn income yet) in the third quarter business tax return?

Thank you.

 

[DTA93433]

For purposes of calculating 3rd quarter estimated taxes, yes, you should include expenses incurred in the 1st two quarters of 2016. Note: you should be filing though only one return for (a short year) 2016. The taxes owed will be based on net profits (income).