Gears Posted November 5, 2007 Share Posted November 5, 2007 I don't know if this belongs in the Client Discussion board or The Lounge board. For those of you who own LLC's, how much do you pay your accountant to file Federal and State taxes each year? Please also provide any other descriptions of your company structure or tax forms filled out, if you don't mind sharing. 0 Quote Link to comment Share on other sites More sharing options...
impactgc Posted November 6, 2007 Share Posted November 6, 2007 We do it ourself-- not worth getting an account involved You can add the income to your normal tax forms-- and deduct as needed. "Like sole proprietorships (one-owner businesses) and partnerships, an LLC is not considered a separate entity from its owners for tax purposes. This means that the LLC does not generally pay any income taxes itself; instead, the LLC owners pay taxes on their allocated share of profits (or deduct their share of business losses) on their personal tax returns." We are a LLC in the state of CT, USA Adam 0 Quote Link to comment Share on other sites More sharing options...
Gears Posted November 6, 2007 Author Share Posted November 6, 2007 Thanks for sharing, Adam. So how many forms do you file? Two? One for Federal and one for State? And you don't file any business forms? Just the personal 2 forms? 0 Quote Link to comment Share on other sites More sharing options...
impactgc Posted November 6, 2007 Share Posted November 6, 2007 Well I file with the State every year - with annual dues. But when filing taxes I file just personal forms.(itemized forms as well) - state and federal. Adam 0 Quote Link to comment Share on other sites More sharing options...
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