Question

Incorporated my Travel Business in NY 9/2022

Forum|Forum|3 years ago
November 16, 2022
1 reply
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I've been filing with personal taxes schedule C. Should I continue for 2022 or should I file the business separate from the incorporation date?

A

agarcia10

Hi ESJ2015, thank you for your question, but I do have a couple questions: Did you form a Single member LLC , Multi member, C corp or S corp?, if is a single member LLC, you can continue filing with your personal income, but if is more than one member, you probably have to file separated returns, one personal and one for the business.

A C corp. must file a separated income tax return, form 1120. Please see the link below for more info:

https://turbotax.intuit.com/tax-tips/small-business-taxes/how-to-file-federal-income-taxes-for-small-businesses/L8ghn14sF