#1 ·
Hey everyone
I’m not sure if it’s just my search engine acting up or what, but I can't seem to track down this specific thread. From what I gather, there are some nuances here compared to standard LLCs or sole proprietorships, so I’m starting this topic hoping someone might have the answers to the things I'm stuck on. Maybe it'll help others too. 🙂
So, basically, I'm wondering if you can actually put a "freelance business" on hold. The assumption is that you can, but what are the actual rules for doing that?
I stumbled upon an old article—mostly discussing traditional small businesses, honestly—that mentioned even if you mark your status as "inactive," you still have to pay taxes like usual. And that kind of defeats the whole purpose of pausing everything in the first place.
Anyone got the scoop? 🙂
Thanks in advance
I’m not sure if it’s just my search engine acting up or what, but I can't seem to track down this specific thread. From what I gather, there are some nuances here compared to standard LLCs or sole proprietorships, so I’m starting this topic hoping someone might have the answers to the things I'm stuck on. Maybe it'll help others too. 🙂
So, basically, I'm wondering if you can actually put a "freelance business" on hold. The assumption is that you can, but what are the actual rules for doing that?
I stumbled upon an old article—mostly discussing traditional small businesses, honestly—that mentioned even if you mark your status as "inactive," you still have to pay taxes like usual. And that kind of defeats the whole purpose of pausing everything in the first place.
Anyone got the scoop? 🙂
Thanks in advance