When it comes to things like assets, the only difference between a sole proprietorship and a single member LLC, is the spelling. Literally! There's only one thing that "might" change on your SCH C.
- You'll add the letters "LLC" to the end of your business name.
- You will remove the SSN from the SCH C and replace it with your EIN, assuming you got an EIN from the IRS. If you don't have an EIN, then I highly recommend you get one yesterday, if not sooner. Takes 10 minutes on line and doesn't cost a penny.
