@carroll-j-1 wrote:
This year my wife and I set up a sole proprietorship LLC.
Just a quick note here (for the period going forward):
The proper term for an LLC that has only one member is "single-member LLC" (which is treated, for federal income tax purposes) as a sole proprietorship.
If you and your wife are both members of the LLC, it is a "multi-member LLC" and, since you and your wife reside in Missouri, the LLC will be required to file a Form 1065 (as the default classification for this type of entity is a partnership).
