I started an llc company. What do I need to do this year?

WaltGrimm Member Posts: 2 Newcomer
edited May 6 in General

How to file a new llc business?

Best Answer

  • KristineS
    KristineS FreeTaxUSA Agent Posts: 109
    Answer ✓

    Hi WaltGrimm,

    Congrats on the new LLC!

    Assuming your new LLC is a Single Member LLC, for income tax purposes that will be just as if you are a Sole Proprietor filing a Schedule C, Profit or Loss form Business (Sole Proprietorship).

    You will report your income and expenses on Schedule C, and self-employment tax on Schedule SE. FreeTaxUSA will guide you through the steps and create the forms you need based on your input.