Tax time question

Depends on what type of business.

Most likely, you better get help if you are just now asking this question.

 

Still leaves many unanswered questions.

LLC as an sole proprietor?
LLC as a Partnership?
LLC as a Corporation?

 

As roadmedic has said to many unknowns to answer correctly. However I have always found filing two separate taxes saves me money.

 

Usually means that you knew what you had planned well in advance.

 

Sole prop or partnership you need to file your personal returns with no real trouble. Corporation you would need to file both business and personal taxes depending on how it is set up/

 

Partnership still has to file a return.

If the operation was a corporation or partnership, the money would have to be in the name of the business.

 

I would suggest professional tax prep before you put yourself out of business.

 

Yes but don't look for a tax lawyer look for a good accountant. I have seen several friends go under because they had no clue about the financial side. You will see many posts on here of guys critizing about your not a business man. I will agree with them all day long, I'm not a business man I'm a truck driver, it's what I know and what I love. However a smart man can make it anywhere if he realizes his limits and sourounds himself with smarter people to fill in the gaps. If you're asking in January how to do your taxes you probably didn't plan well to begin with. Find a way to get through this year and then find someone who knows what they are doing. No matter what you read on the Internet the o/o who make it are the ones who don't do it all on there own.