For the first 8 months my business was a sloe proprietorship, but I transitioned to an LLC in October. How does this change how I set up my 2020 taxes?
For the first 8 months my business was a sloe proprietorship, but I transitioned to an LLC in October. How does this change how I set up my 2020 taxes?
. A single-member LLC is a “disregarded entity” for taxpurposes—that is, it is taxed the same as a sole proprietorship.
For the first 8 months my business was a sloe proprietorship, but I transitioned to an LLC in October. How does this change how I set up my 2020 taxes?
both the operations of your sole proprietorship and LLC get reported on the same schedule C.
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