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3 Replies Last post: Apr 18, 2009 6:19 PM by 4Founders

Single member LLC

Apr 17, 2009 5:40 PM

Click to view destined2win's profile Start-up destined2win 1 posts since
Apr 17, 2009
Does a single member LLC have to file a return if the compnay made less than 600 dollars?

How can a company start paying federal taxes quarterly instead of every year?

How can a LLC pay ss and medicare benefits quarterly?
Tags: starting, a, business_, single, member, llc_business, tax, guidelines_ Report as inappropriate
Click to view LUCKIEST's profile SCORE LUCKIEST 7,932 posts since
Aug 6, 2007
1. Re: Single member LLC Apr 17, 2009 5:56 PM
Single member LLC, Welcome

Who are you??. It is VERY hard to answer questions without a name and some info
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Click to view phanio's profile Mogul phanio 474 posts since
Apr 7, 2009
2. Re: Single member LLC Apr 18, 2009 5:54 AM
Start with the IRS website - http://www.irs.gov/businesses/corporations/index.html - lots of information here to answer your questions.

Then hire a CPA as your situation may be different then everyone elses.

Business Money Today
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Click to view 4Founders's profile Professional 4Founders 5 posts since
Apr 16, 2009
3. Re: Single member LLC Apr 18, 2009 6:28 PM
A "normal" corporation, such as a C-corp or S-corp, exists as an independent, taxable entity.

One of the beauties of the LLC is that as far as revenue is concerned, its treated as a sole proprietorship (as in your case) or partnership. Any revenues your LLC earns, regardless of the amount, is taxed as personal income.

There's no need for you to file separate tax forms for the LLC, just report it as a part of your personal income tax return.

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Fundamentals for Founders: The Practical Guide to Kick-Starting Your Business
http://www.fundamentals-for-founders.com
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