Taxpayer asks:
I started a single member LLC this year, and need to make estimated tax payments.
When I went onto the IRS site to make payments, it asked for either my EIN or my SSN for the payments.
Am I making payments on both?
Taxgirl says:
You’re only making payments for the LLC once.
The big question is whether you are operating as a disregarded entity. If you are (and most single member LLCs do), then you don’t need the EIN – just use your SSN. You’ll report your tax info directly on your form 1040 since there’s no separate return for a Single Member LLC treated as a disregarded entity for tax purposes. So, when calculating estimated payments, file your estimated taxes using a form 1040-ES.
Like any good lawyer, I need to add a disclaimer: Unfortunately, it is impossible to give comprehensive tax advice over the internet, no matter how well researched or written. Before relying on any information given on this site, contact a tax professional to discuss your particular situation.
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