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08/05/2024

Can You File LLC Business Taxes with Personal Taxes?

Yes, you can file LLC business taxes with your personal taxes unless you ask for the LLC to be treated as a corporation.

LLCs can ask the IRS to treat them as a corporation, partnership, or disregarded entity by filing Form 8832, if their default status is otherwise.

An LLC that is treated as a corporation by the IRS must still file an income tax return using Form 1120, unless they are exempt under section 501. Exempt organizations include charities and religious organizations, according to the IRS.

If an LLC is treated as a disregarded entity by the IRS, they must still report their lack of income via Schedule C (Form 1040).

Get y’all stuff in order !

Photos from TQOH's post 10/15/2023

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L-4x

07/24/2023

Before the end of the night I’m going give you three beautiful reasons why you shouldn’t jump up & register your business as a LLC!
1. You are not serious about your business
2. You don’t want to pay fees to stay in compliance
3. You don’t want to file the necessary paperwork
An LLC protects you, the owner by providing LIMITED LIABILITY! Don’t rush into anything you’re not financially comfortable keeping up!

Scale your business before running it in the ground before you even start it listening to people that just want money to pay their bills! Research , become knowledgeable, and explore the experience!

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