So if I understand correctly, as the only owner of the LLC I would still file my income and expenses via the Schedule C as I have been doing in the past, is that correct?
Then I am still confused regarding the income as I have several different income streams for the business, so to provide more specific details:
- I have clients that will pay the business directly - this I understand would be documented as income for the LLC via cash/check payments
- I have a university that will pay me as a W-2 employee even though my services are from the business, and they will not pay my business so how do I document that as LLC business income so that I can deduct my expenses against it?
- I have a gym that pays me via a 1099 NEC for services that my business provides but they pay me as an individual, same question as above....how do I document this as LLC business income and deduct my expenses associated with it?
