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February 11, 2021
Question

I usually do my own taxes and last year I started a little cookie business LLC. Can I do my own taxes still? Can I combine them since I am the only person?

  • February 11, 2021
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1 reply

February 11, 2021

You can probably combine your personal taxes with your cookie business.

 

Are you the sole owner of the LLC? Have you told the IRS that you want to be taxed as a corporation (probably not)?

 

If "yes" and "no", then you can file as a "disregarded entity", that is, the IRS will ignore that it is a LLC (which is a creature of your state law and not of the IRS), and let you treat it like a sole proprietorship.

 

You file a sole proprietorship using Schedule C on your 1040 tax return.

 

To get the maximum benefit of taking deductions, you will want to use TurboTax Self-employed (Online) or Home & Business (CD/download).

 

If your answers above were not "yes" then "no" , come back and tell us about it.

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