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    1 Reply Latest reply on Nov 14, 2010 3:26 AM by hinrichscpa

    LLC AND TAXES

    sandyloulou Newbie
      Hi I have a LLC, but i am not working on it anymore, i just wanted to know if i could fill $0 for taxes or if it is better to close it all together, also do i have to file at all if i didn't make any $$? i am the only member in the LLC.
        • Re: LLC AND TAXES
          hinrichscpa Newbie
          If you are not planning on operating the business any longer it would be besst to file a return and mark it as "final" - meaning you closed the business. From the IRS website:

          "The annual tax return for a partnership, corporation, S corporation,
          limited liability company or trust includes check boxes near the top
          front page just below the entity information. For the tax year in which
          your business ceases to exist, check the box that indicates this tax
          return is a final return."
          Hope that helps.

           

          Andrew Hinrichs, CPA
          p: (913) 735-9829
          ahinrichsCPA@gmail.com