dms1488
New Member

Sole Proprietor to LLC Single Member Questions

I have been a sole proprieter the last couple years. I now am a single member LLC but I also have a part time job 24.5 hrs per week.

 

I have some questions here.

 

1.How will my taxes be different now?

2. Do I need to file quarterly taxes?

3. If I reinvest 100% of my profit back into my business which is my plan, how do I report that on my taxes so they know I'm not taking in that as income/profit?