Hello, So as the title says, I'd like to file the LLC Partnership (I'm in with my sister) for free. We are very small and not at the point of making profit yet, we are in year two. I'd like to preserve on money for our future plans. In the past we used TaxAct but it's just so expensive. If anyone as any advice, whether…
New business, LLC this year. 1. Looks like I can just append schedule C onto my regular taxes. 2. Bought a laptop with a business account and that's 100% for business. I assume I put that in a depreciating expense or similar? 3. Any other thing I will need to do on this? 4. Additionally filed a BOR registration. 5. Do I…
I'm turning a poolhouse on my property into a short-term/mid-term rental. I've spent a lot on repairs, updates and furnishings this year (things like repairing drywall, updating electrical panel, but also buying washer/dryer, dishes etc). I planned to rent it out this year but it will likely not be ready until next year. I…
I just set up an LLC for a rental property this year. When filling out taxes, do I do taxes for the business (LLC) and personal taxes separate, or are they lumped together? Are there additional separate taxes that are required for an LLC?
I formed an LLC this year but barely made money can I file those taxes when filing my personal taxes even though I will be filing those married joint since we got married this month?
In a partnership/multi-member LLC where profit is allocated proportionally to partners/members, is all such profit taxed even if a partner/member elects to keep it in the business and not withdraw it? Pretty sure yes, but would like confirmation.
I just started a new business and I'm doing my taxes for the first time. When completing my personal taxes, they ask for additional income. Am I to include the profits from the business into the section?
my started an LLC Last year, her business revenue is under $ 5000 in whole year. Should she file tax ?
I have a partnership dispute that is holding up the release of my 2023 LLC K1. My tax consultant advised that I file form 8082 with my 2023 and estimate what the K1 values would be. In form 8082, they said I should note the partnership dispute, that K1 values are estimates and state that i would file an amended return once…
Hi there! I started an LLC this year, which made around $11K, and half of that money was used to pay other contractors for the LLC. I collected w9's, but have not sent out 1099's. What do I do for filing?!
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