Taxes for a sole-proprietorship/Schedule C are the same for a single-member LLC. If you have a partner or make an S-Corp election, you would need to use TurboTax business to file your business taxes on Form 1065 or 1120-S. Those returns cannot be included with your personal taxes like a Schedule C can. All of your health and wellness business income gets reported on the same Schedule C no matter what id numbers they put on the forms. If the income is related to your business and you are a sole proprietor or a single member LLC - it goes on your business Schedule C. What type of entity is my business?
Your form of business determines which income tax return form you have to file. The most common forms of business are the sole proprietorship, partnership, corporation, and S corporation. A limited liability company (LLC) is a business structure allowed by state statute.
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