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January 3, 2025
Question

Personal and Self Employment Taxes

  • January 3, 2025
  • 1 reply
  • 0 views

I plan on starting a (sole) LLC soon, while temporarily still working my current 9-5…

Through TurboTax, am I able to file my personal taxes, quarterly taxes for my LLC, and taxes on my owners draws? This is all very new to me

1 reply

VolvoGirl
Employee
January 3, 2025

First of all, did you elect your Single Member LLC to be an S Corp?   If you are not an S Corp the LLC is a disregarded entity and you file it like self employment on Schedule C in your personal 1040 return.   I can give you more info on that.