Business & farm

Do you have an employee or are you referring to yourself as the "employee"?

 

A single-member LLC is disregarded for federal income tax purposes and, in effect, is treated the same as a sole proprietorship. As such, you would not issue yourself a tax reporting statement, such as a 1099 or W-2; you are not an employee of your single-member LLC.

 

Consequently, you would file a Schedule C for your single-member LLC and pay self-employment tax on any net profit of $400 or more.

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