Deductions & credits

LLCs can take many forms for income tax purposes. single-member which is disregarded for income tax purposes. Multi-member that usually requires filing a partnership return. electiion to be treated as a corporation either C or S corp.   There is also the liability issue regarding the vehicle.  In your personal name with personal insurance on the vehicle, you may find that under state law you have no insurance if an accident occurred while using it for business. discuss with the company insuring the vehicle

 

 

A w-2 would only be required if you formed the LLC as a corporation.