Posts tagged as:

LLC

Ask the taxgirl: Filing Tax Returns for an LLC

30 January 2011

Taxpayer asks: Hi Kelly, I read your article about incorporating to limit taxes. How about forming Limited Liability Corporations (LLC’s)? When you form an LLC for real esate holdings to limit liability, do you file as an individual or do you have to file for the LLC? Thanks. taxgirl says: This is one of those [...]

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Ask the taxgirl: SMLLC and Estimated Payments

8 April 2009

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. [...]

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Ask the taxgirl: Reporting for Single Member LLCs and S corporations

24 March 2009

Taxpayer asks: Hi Tax Girl, I had income from multiple sources in 2008 – albeit, not much…it was a bad year I briely worked as an independent contractor for a real estate company and received a 1099-MISC for $5,467 of non-employeee compensation. It was reported under the single member LLC I formed (to my EIN). [...]

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Ask the taxgirl: Charitable Deductions for LLCs

10 September 2008

Taxpayer asks: Hi, I run an ice cream (IC) shop and give away lots of IC to local charities (churches, schools, scout’s, 4H, …). The business is an LLC and I have 2 partners (we all get K-1′s). Can I deduct the retail value of these donations? Obviously, the my cost of the food supplies [...]

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