Tax services for an almost non-existant corp


I founded an s-corp with a couple of friends in the early part of 2010 that hasn't shipped a product nor made a dollar yet (and likely won't ever). Unfortunately, I'm really not in the financial position right now to pay a CPA to handle my taxes for me.

Is using an online service like turbo-tax or doing it myself a terrible idea? I figure since we don't have any assets, profits or expenses (beyond what it cost to incorporate) the process would be pretty straight forward.

Incorporation Tax Accounting

asked Feb 9 '11 at 15:14
Chris Cummings
108 points

1 Answer


My company is in a similar position - a C-corp that incorporated this year and made no revenue - and all we owe is a $75 franchise tax in DE where we're incorporated. Your state taxes will depend on where you incorporated your company. For S-Corps at the federal level you're basically declaring all profits and losses on your personal tax return (see:,,id=98263,00.html ).

answered Feb 9 '11 at 16:31
Angelo K
26 points

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Incorporation Tax Accounting