About Terri Lynn

Employee Tax Expert

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Enrolled Agent with 25 years of experience

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Re: Should I pay myself a salary under my sole proprietor LLC?

Hello, EMSO! Youwill not berequired to obtain a new EIN. The IRS has stated that one does not need to apply for a new EIN in any of the following scenarios: I...

Terri Lynn

Updated Nov 13, 2024
Re: Single-owner Delaware LLC questions

Thanks again, jdj20912! In general, the information would be the same, other than the fact that as a C-corporation, you will be taxed as a completely separate ...

Terri Lynn

Updated Nov 13, 2024
Re: Single-owner Delaware LLC questions

Hello, jdj20912! Do I have to pay any Delaware state taxes as a LLC?Delaware LLCs that don't do business in Delaware are not required to pay income tax or fil...

Terri Lynn

3

Updated Nov 13, 2024
Re: Accrued Bond Interest

Hello, Dick16! In general, when you receive tax-exempt interest from investments like municipal bonds, you will receive a Form 1099-INT or Form 1099-OID.On Form...

Terri Lynn

1

Updated Jan 14, 2025
Re: Kiddie tax: Does form 8615 "support" include 529 payments for ed...

Hello, icurious! You are right that there is some uncertainty around how 529 and ESA distributions should be treated for purposes of the support test for form 8...

Terri Lynn

Updated Nov 03, 2024

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Date Registered	‎June 27, 2023 2:13 PM
Date Last Visited	‎November 27, 2024 11:29 PM
Total Messages Posted	83
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