Online Business Taxes?

I have a small business that sells products across the US. This business was just started in May of 08 and has not had too many sales. In fact there is less than $100 in profit. It is based out of Florida. I am wondering if there is a certain amount of money that a business has to make before taxes are required to be filed. Also wondering what forms should be filled out. I have also read that if you own an LLC, you would file the taxes with your personal taxes. Is this correct? If so can I use my deductions for my business to offset my personal income? Any help would be appreciated. Does that mean that every one of my customers needs to issue me a 1099? All of the business income is from credit card sales. I have kept a thorough record of all expenses. Since the company is an LLC, do I have to file with my personal or is it just an option?

Public Comments

1. you are allowed to make up to $599 before you have to claim monies. Whoever pays you, should issue you a form 1099. it really depends on how your income is generated to determine how to file and what to claim. best thing to keep in mind is to always have a paper trail, with solid record for 7 years. and also keep in mind that cash is not traceable. you do not have to have a LLC to file together with your personal taxes. a LLC is not necessary to practice business.. at minimal you can practice business with an assumed name form the court house.. a dba (doing business as). just advice, from my own common knowledge .