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March 21, 2019
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How to file estimated taxes for partnership LLC (with no employees)?

  • March 21, 2019
  • 1 reply
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Hello,

 

I've just finished filing my personal and business taxes, but I think my LLC will be subject to paying more than $1,000 in taxes in 2019 - we've just started our business, which is my wife and I, no employees.

 

I know there is form 1040-ES to be used to file estimated taxes, but is there a form for small business like ours?

 

Thanks!

    Best answer by IsabellaG

    Are you filing as a partnership? A partnership is a  pass-through business entity that doesn't pay taxes on its own. Instead, the partnership's share of income and losses gets reported to the partners and the partners (you and your wife) report the income on your personal tax return. So if you are trying to make sure that you've paid in enough in 2019, figure your personal income tax including the partnership income. 

    1 reply

    IsabellaG
    IsabellaGAnswer
    Employee
    March 22, 2019

    Are you filing as a partnership? A partnership is a  pass-through business entity that doesn't pay taxes on its own. Instead, the partnership's share of income and losses gets reported to the partners and the partners (you and your wife) report the income on your personal tax return. So if you are trying to make sure that you've paid in enough in 2019, figure your personal income tax including the partnership income. 

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    March 23, 2019

    Thanks Isabella - my wife and I will run some numbers and file 1040-ES if that makes sense.