small business

[skrider]

My husband has a small business that he registered as an LLC, he is the owner and only employee. Do I need to file a separate tax form for his business or include it on our personal taxes?

He also needs to fill out a W9 form for a company he did work for and I don't know if he is a sole proprietor, disregarded entity, or a S- Corp?  

[ThomasM125 · Accepted solution]

He should file the LLC income and expenses on his personal tax return, as self-employment income on a schedule C, provided he didn't elect to file it as a corporation. For the W-9 form, he would be considered a disregarded entity.

[skrider]

Where would I check to see if he elected for it to be a corporation?

[JamesG1]

The election would have to have been made and accepted by the IRS.

First, your LLC has to file Form 8832 (Entity Classification Election) to be taxed as a corporation, then file Form 2553 (Election by a Small Business Corporation) to change your tax status to S Corporation.

[skrider]

Is that why they gave us an EIN number?

[JamesG1]

Possibly.  You would have needed an EIN to pay employees or pay himself by W-2 and remit withholding taxes.

Locate the paperwork.  It may give you a hint as to the purpose of the number.