Thank you Lisa. So because I am filing my LLC business profit/loss via my 1040, how do I make estimated payments to IRS, by my personal SSN or the LLC EIN?
Its my first experience with LLC, so the rules by State, Fed, Banking Account Rules, and IRS Quarterly taxes seems to have less clarity and poor alignment with the rules.
- Do I pay my quarterly IRS Taxes via my personal SSN since I will be filing taxes with 1040?
- I welcome any comments to help -- confusing because;
A) in Illinois, my LLC needed a FED issued EIN in order to open a business bank account.
B) Clients pay my LLC business / account (which required LLC to have FED EIN).
C) At year end there would be a distribution from the LLC to myself (as taxable income). Which I will merge the LLC income within my 1040 filing.
Why wouldn't I be able to incorporate payments made to my Single owner LLC EIN (since it is categorized in terms of taxes, as a sole proprietorship in terms of taxes? I definitely want to make this right, and tie the quarterly taxes back to me, which I thought was accomplished since I am tied to the LLC EIN (name, business, SSN)
Thank you again. perhaps I need to reach out to tax attorney or tax accountant again?
Regards,
Bob
