I am the sole owner of an LLC and I have a question regarding my LLC tax filing. I include my LLC income and expenses on my Schedule C. In doing so, do I still need to file a separate LLC tax return?
No, you do not need a separate LLC tax filing or return. Because LLCs are registered with the states they do not require federal returns. So, unless the LLC chooses to be treated as a corporation:
- A single-member LLC should file Form Schedule C.
- A multimember LLCs should file Form 1065.
Your state might require a separate LLC tax return, please check with your state tax office to find out.
Wondering if you can file taxes with your maiden name? Learn how to file taxes jointly with different last names from the experts at H&R Block.
As end-of-year approaches, taxes owed can become a major headache. Plan ahead by considering 529 Tax Deductions and other end-of-year savings options.
Learn how your spouse owing back taxes may impact your federal tax return from the tax experts at H&R Block.
How much federal tax should you withhold? Learn the answer from the tax experts at H&R Block.