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Click to view natuning's profile Start-up natuning 2 posts since
May 26, 2009
15. Re: Single owner/employee LLC. Tax filing procedure. May 26, 2009 10:47 AM
in response to: NetworkGuru

Thanks NetworkGuru.

In the same boat as shin001 and you I guess.

I have the State taxes figured out but still confused about the Fed taxes.
  • I am by myself (no employee)
  • My company is an LLC and is authorized by the IRS to be taxed as S-Corp
  • For 08, I had a loss which I reported on my 1040
  • For 09, I will make a profit and will report the income on my personal 1040

Am I considered "Self-employed" or "Employee"?
Am I supposed to estimate Withholding?
How do I file/pay SS and Medicare?

Thanks very much.
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