John-H2021
Expert Alumni

Business & farm

Hello Spagirl,

 

Your single member LLC will be part of your individual return the you file every year. The income and expenses for the business will be reported on a schedule C.

 

To make filing easier you should have a profit and loss statement showing all the income the business received and all the expenses associated with making that income.

 

Here is a link with allot of useful information for a new business owner https://turbotax.intuit.com/tax-tips/self-employment-taxes/beginners-tax-guide-for-the-self-employed...

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