I have recently formed an LLC (single member) for my consulting business and had an EIN issued. I am billing new clients through the LLC, but I still have existing clients that I originally worked with as an independent contractor (sole proprietor) and that arrangement won't change. Those 1099s will report directly to my SSN.
From a general financial perspective, I will keep the LLC and sole proprietor books separate (since they are separate legal entities), but I'm wondering how this mix affects things tax-wise.
Even though they are legally separate, as far as the IRS cares, my single-member LLC and me as a sole proprietor are the same thing, right? So, I should just be able to file a single Schedule C, noting both my SSN and the LLC's EIN, and consolidate the P&L from the LLC and sole proprietor side?
Thanks for any answers!
