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Business & farm
As a single member LLC you are a disregarded entity for federal income tax. As such, you report your activity on Sch C. You do not complete a W-2 for yourself. Once Sch C is completed, TT will make the appropriate tax computations for both ordinary income tax and Self-employment tax.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
‎June 3, 2019
11:48 AM