How do I know if I need for file my LLC? I haven't made any revenue yet, and I'm not planning on trying to tax any deductions. Do I still need to enter it when I file? Thank you!
Is there any reason I should create a LLC for my freelancing? Is there a certain amount of money I should be making annually before this makes sense? I know a lot of people create an LLC when starting a small business, but I don't fully understand why.
I just finished filing my taxes for the year with FreeTaxUSA. If I understood correctly, there was a form I need to send to the IRS since I pay rent to a landlord for my space. I have been trying to figure out what that is, and can't seem to find information anywhere. Did I misunderstand this requirement?
We have started a multi member LLC at home. Me and my wife are members. Can we use FreeTaxUSA to file our last year Tax ? If yes suggest the steps.
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.
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