I need to further reiterate one thing I said above.
Additionally, under no circumstances and with no exceptions will you issue yourself a W-2, 1099-MISC or any other type of tax reporting document.
The above applies if the business will be reported on SCH C as a part of your personal 1040 tax return with no exceptions. However, if this is a multi-member LLC that will file a 1065 Partnership Return, then the partnership will issue each owner/partner a K-1 that each owner partner will *require* before they can even start their personal 1040 tax return. Also take special note that a 1065 partnership return is due to the IRS on March 15th each year. After that, the late filing penalty is $200 per month, per owner/partner. So don't be late with this.
