I have a sole proprietorship LLC buisness , when filing taxes do you have to file your personal and buisness taxes together or can you file them seperately?How can I maximize my tax deductions?How often do I need to pay income taxes for my buisness?

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Tremell706

Question

personal and buisness taxes

Forum|Forum|1 year ago
May 22, 2024
1 reply
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I have a sole proprietorship LLC buisness , when filing taxes do you have to file your personal and buisness taxes together or can you file them seperately?
How can I maximize my tax deductions?
How often do I need to pay income taxes for my buisness?

Ask the Experts - Biz Tax - May 2024

xmasbaby0

Employee

A sole proprietorship is a disregarded entity for your tax return. All of your self-employment income and any other income from any source goes on the SAME Form 1040. Since you have self-employment income you will be paying self-employment tax on that income and perhaps some ordinary income tax as well.

https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes

https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-1099-nec/1099-nec/L5qTsBiSe_US_en_US

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

https://blog.turbotax.intuit.com/self-employed/self-employed-tax-deductions-

calculator-2021-2022-50907/

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

https://turbotax.intuit.com/tax-tools/calculators/self-employed/

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**