Estimated tax related to Self Employment

Forum|Forum|1 year ago
April 2, 2025
1 reply
0 views

Hello,

I have a small business and do have an EIN. We had a Partnership and filed a Partnership return for 2024. We, going forward, will be operating under a single member LLC structure and for 2025 taxes, tax season 2026, will be filing the business tax on a schedule C with our personal taxes. I am about to make an estimated tax payment for the business and I dont know if I should use the Business EIN or if I should use my social security number to make the estimated tax payment in this circumstance? (Partnership with EIN filing 2024 return though moving to Single Member LLC filing on schedule C for 2025) I need to make estimated payments for 2025 and you have to put either EIN or Social Security number.

Thank you,

Carol

AmyC

You can always make an estimated payment under your social security number since all the business EINs are connected to the SSN.

Side note:

Struggling with the word "WE". "We, going forward, will be operating under a single member LLC structure"

WE isn't possible on a sch C that is a sole proprietorship. If you are in a community property state, you each file your own Sch C and split everything 50/50 (if you meet the rules). If you are not in a community property state, you are a partnership, S-corp, business.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

CaroldehavenAuthor

Amy,

I said we, because we are husband and wife who were in partnership. We withdrew one member out of LLC and going forward will be filing business income on a schedule C with individual joint taxes return due to now being a single member LLC. My husband has a regular job and has a W2. We are in Minnesota and not in a community property state. Due to business structure now being a single member LLC, we, husband and wife, will be filing a joint individual 1040 and doing the business aspect of taxes on a schedule C. Should we use the EIN or my social security number for estimated taxes since I remain in the single member LLC? Or would you still say I should do estimated tax under my social security number? I just want to do things correctly.

Thank you kindly

AmyC

Awesome! Thank you for clearing that up! Yes, you alone moving forward can report the estimates under your social or the EIN and actually with your new information, you have another option. This will sound bizarre, but, the two of you are MFJ so you can have him take more out from his job to cover your self-employment. All of the business income is being reported on Sch C inside of your joint return. The money withheld from his job or the estimated taxes you pay will be reported on your joint return for credit.

The self-employment taxes you pay when filing will be credited to your Social Security account along with your income.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"