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  • 1.  LLC

    Posted 03-28-2015 04:00 PM
    I just found out that one of my clients formed a single person LLC. My question is whether that person can file a schedule c rather than being treated as a C or S corporation can that individual just file a schedle C

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    Ronald Seroda
    Ronald Seroda PC
    Dix Hills NY
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  • 2.  RE: LLC

    Platinum Most Valuable Member
    Posted 03-28-2015 10:11 PM

    perhaps

    It depends on the nature of the  business.  

    if it were a rental property, it would be a schedule E.

    if an operating business then a Schedule C is appropriate.

    another question is  " what about Schedule SE. ".    

    a single member LLC is a disregarded entity. and all that goes with it.

    I would think it subject to SE Tax.

    Another question which perhaps someone else will join in on is "   what EIN number should be used on the Schedule C ?

     

    Hope this helps.

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    Abby Alhante
    KURCIAS & ALHANTE, CPAs LLC
    Woodbury NY
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