Question on LLC income reporting and deductions

stillwaterRANDM — Wed, 15 Jan 2025 17:03:51 GMT

I had an LLC business in 2024 that earned income. I am in the state of MN. I'd like to know, what forms do I need to provide my CPA to file and what deductions I may be eligible for. For example, the purchase of a PC for the LLC business and necessary software.

Re: Question on LLC income reporting and deductions

DawnC — Wed, 15 Jan 2025 17:13:39 GMT

If you have a single member LLC, you can prepare your business taxes along with your personal taxes. If your LLC is a multi-member LLC, you will need to prepare separate returns for your business and your personal taxes. In either case, you can use the following checklist to start gathering the documents you need. You can deduct any ordinary and necessary business expenses, including any PCs or software needed to operate your business.

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Question on LLC income reporting and deductions

Re: Question on LLC income reporting and deductions