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T
ton_loc
January 31, 2023
Question

I have shifted my business from a sole proprietor to an LLC but I am still the only person involved with my business. does that change how i file my tax return

  • January 31, 2023
  • 1 reply
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1 reply

D
DavidD66
January 31, 2023

No, it does not change how you file your taxes.  A single member LLC is considered a "disregarded entity" by the IRS.  This means that unless you elected to have your LLC taxed as an S-Corp, you will continue to file your business income and expenses on Schedule C as part of your personal tax return.

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