We began a small business two years ago as an LLC. We are just getting started and our production is not even running yet. We have made no income from…

Continue Reading Filing An LLC Tax Return When Your Company Made Little Or No Money

I know single member LLC treated as pass-through tax status. But what about a husband and wife filing jointly. How do we file to get the pass through? - Kelly,…

Continue Reading How To Do Pass Through Taxes For A Husband And Wife LLC

I am a single member LLC, no employees. I filled out my tax forms using the 1040 and sched C and sched SE, and discover that I must pay a…

Continue Reading File My LLC As A C Corp Or Sole Proprietor?

When an individual incurs organizational costs while setting up their single member LLC, are they able to elect to amortize and/or expense organizational costs through the Schedule C (1040). My…

Continue Reading Can A Single Member LLC Elect To Expense Organizational Costs On Their Individual Tax Return?

We have a two member LLC. The second member is my wife. She's a legit member (professional, with some part-time work contribution), but since it is a spouse, the taxes…

Continue Reading How To Deduct A Christmas Meal/Party For A Small LLC?

The short answer is yes...if your business is located in Nevada (or Delaware). Otherwise, your best bet is to form your business entity in the state where your business operates…

Continue Reading Is A Nevada Or Delaware LLC The Best?

Hello, I got an EIn number in 2007 for an llc that I had opened, but things happened and I could not get my store up yet. I have not…

Continue Reading New Business And Made No Money. Do I File Taxes?

If your business operates as an llc and makes no money or looses money do you still have to file taxes and will you end up owing or you have…

Continue Reading If You Make No Money As An LLC Do You Still Have To File And Pay Out Taxes At Year End?

We are a club, garden state ghost hunters LLC. We went LLC so as we can have small ghost tours to generate funds to help our club obtain equipment. Neither…

Continue Reading If LLC Income Is Under $2k Do I Need To Pay Taxes On It?

If forming an LLC in Nevada w/ husband & wife as members if we elect sub s - can IRS decide to treat as a single member LLC because we…

Continue Reading Tax Question When Forming An LLC In Nevada W/ Husband & Wife As Members