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Deductions & credits
Just so you know..... when it comes to taxes and the IRS, the only difference between a sole proprietorship and a SMLLC is the spelling. That's it. To form the LLC all you had to do was register your business with the state and "wala!" you're now an SMLLC.
So when you complete your taxes, *NOTHING* changes. You still complete SCH C with the same EIN. The absolute only difference will be that the business name on the SCH C will have the letter "LLC" added to the end of it. That's it.
‎December 18, 2019
5:19 PM