I want to address something you did not ask. You said “we“ are starting an LLC. If this is an LLC with two or more partners, you will generally be required to file a partnership tax return form 1065 and not a schedule C. However, if there are only two members and they are spouses and you live in a community property state, the tax rules are different. You may want to seek professional assistance to set up your accounting and taxes for the first year of your business.
