- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
As a single member LLC, you are a disregarded entity for tax purposes, which means you will file your income and expenses on Schedule C as part of your personal return. There is a place on Schedule C to enter an LLC's Tax ID if the LLC has one. You can issue 1099s, and complete W-9s using your LLC's EIN, or your Social Security Number - for tax purposes it ultimately doesn't matter, unless and until the LLC has employees, and then MUST use a separate tax ID for payroll tax purposes. You have a tax ID for the LLC, you might as well use it. It will minimize your social security number floating around on various forms at clients, vendors, banks, etc.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 8, 2021
5:43 PM
137 Views