The most recent content from our members.
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 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?!
We have a single member LLC (according to the IRS EIN filing) for a husband and wife LLC in a community property state. How do I file this on a schedule c? Do I need two schedule Cs? We are 50-50 owners. All income, expenses, and self employment tax should be equal. The business has many vehicles (car rental), and I don't…
Hello. I was on W2 since 2021 but also have an LLC Sub S since 2020 (single memeber) . It was inactive (no sales from 2022-2023), however some banks sent me 1099 INT for several bonuses on new checking accounts opening. How do I report this "bonus" income for 2023? Thanks!!!
Hello! My Partner and I (not married) started an LLC last year. How do we go about filing for that? We appreciate any help we can get!
I am a non-resident from Peru and the sole proprietor of an LLC established in September 2023 in the United States. The LLC has received a nominal payment of $100 from Colombia through Stripe. Given the current and projected financial activity, I am seeking professional advice on my US tax obligations, including the…
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.
My LLC purchased a car this year to be used for business purposes. What do I need to do on my tax returns to maximize the tax credit?
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