0
What else can I help you with?
Can you file a business llc and personal taxes separately?
Well, honey, of course you can file your business LLC and personal taxes separately. They're like two separate entities with their own set of rules and regulations. Just make sure you keep those finances nice and tidy, so the IRS doesn't come knocking on your door. Good luck, darling!
Can I use my LLC business account to pay my personal taxes?
No, it is not recommended to use your LLC business account to pay your personal taxes as it can lead to confusion and potential legal issues. It is best to keep personal and business finances separate to maintain clear financial records and compliance with tax laws.
Can the IRS come after an LLC for personal taxes?
Yes, the IRS can come after an LLC for personal taxes if the LLC is a pass-through entity and the owners have not paid their personal taxes.
Does a comma go before LLC?
The comma goes after the business between the name and the LLC. Business Company, LLC
Main types of business?
There are two basic types of businesses: LLC and a Corporation. They both have their advantages but the most popular business type is forming an LLC which can be found on sites like http://legalzoom.com and http://ellcoperatingagreement.com. It is mainly popular for its pass-through taxes and the easiness to create.
How does an llc effect personal taxes?
Income from an LLC goes directly to pay an individuals personal taxes. This is because there is no K-1 form associated with it.
Do you have to have a business bank account for an LLC?
Yes, it is recommended to have a separate business bank account for an LLC to keep personal and business finances separate and maintain the liability protection that an LLC provides.
Do you need a business account for an LLC?
Yes, it is recommended to have a separate business account for an LLC to keep personal and business finances separate and maintain the limited liability protection that the LLC provides.
Who typically has to pay LLC taxes?
LLC taxes are typically paid by LLC members. These members include Single-Owner LLCs and Multi-Owner LLCs. The IRS treats LLCs like a sole proprietorship or partnership.
We live in California-community property state.My husband owns his own business. I am not listed as part owner. We file our taxes jointly. Am I responsible?
If his business is an S-Corp, incorporated or an LLC then the only thing on your joint taxes should be his income (in the form of a job-based income), not any business-related taxes or revenue. If he is a sole-propriater, and claims all his business income on your joint taxes, then your filing, as a couple, has equal liability.
Do I have to have a business bank account for my LLC?
Yes, it is recommended to have a separate business bank account for your LLC to keep your personal and business finances separate and to maintain the limited liability protection that an LLC provides.
Does the officer of an LLC pay taxes?
Yes, of course.
